If your current fixed-rate mortgage deal ends within the next 6 months, then you should be starting to look for a new deal. Especially if you think interest rates might go up between now and the end of your product. Here are some simple tips, tricks and Remortgaging Advice in Coventry.
At one time, remortgage offers only lasted for 3 months. However, it’s not unusual for lenders to hold offers open for 6 months so you can lock in a deal further in advance. By locking in a deal in advance, it keeps the time you automatically switch to the standard variable rate to a minimum. If you are really organised, it is possible you might spend less than 24 hours on the standard variable rate when the time comes.
When you look to move, it’s not uncommon for your current lender to offer you a deal to remain with them. Annoyingly though, brand new customers tend to get the best deals, not loyal customers.
This is because lenders know moving away to a different provider can be a lot of hassle. Therefore, they try and capitalise on this by offering an average product but with a very slick service. Don’t be caught out!
In the future, technology will most likely make the process of switching lenders much quicker. In the meantime, in return for spending a little bit of time on the phone with a Mortgage Advisor in Coventry and sending over a few documents, you really can save yourself a lot of money.
We are always available to answer your questions, speak to a Remortgage Advisor in Coventry 7 days a week.