See if a remortgage to a fixed rate might benefit you..

We are in the middle of the Easter school break and this is traditionally a time when many people do one of three things in the mortgage sector. They start looking at new properties to move to: they are already committed and are packing ready for the removal lorry or, they take time to review what mortgage they have and question if there is anything better out there. It might be argued that huge numbers of people simply take a holiday, and why not?

Certainly, once the holiday is over, then it makes sense to review the current mortgage deal and see if there is a better option and perhaps look to secure a competitive rate for a few years. Whilst I always err on the optimistic side of a rates argument we are entering a truly unknown era. We have never left the EEC before and so there is no history to prompt what the immediate and longer term implications will be.

It may well be that we need to be prudent and a medium to long term fixed rate will allow the head to drop comfortably onto the pillow each night if rates do rise as a result of Brexit (whoever thought of that word to describe it?)

So do take the chance to look and see if a re-mortgage to a fixed rate might benefit you. Actually, it is wise to consider this anyway, regardless of Brexit as there are millions of people on lenders standard variable rates enjoying complete and deafening silence from their current mortgage lender. Why the silence? Simply because lenders are comfortable with you paying over the odds and increasing their margins! They are under no obligation to offer you a better deal when you come to the end of an incentive term and you automatically flip onto their variable rate. It is worth looking for a better deal and many lenders will welcome you with free valuation and legal initiatives and a difference of 1% can save you a substantial sum over few years.

Talk to an independent mortgage adviser and see what they can offer.