Is this the best time to remortgage?
Well it depends on your individual circumstances and equity in your property. The best deals on the market are for those with 35-40% equity. Rates starting from 1.45% with the RBS. Arrangement Fees play a role and many of the lowest product rates come with high fees attached (speak to an adviser). For an 85% loan to value, rates start from 2.15% with the Coventry BS.
Yes it is a good time to remortgage and reduce your monthly mortgage payments especially if you’re sat on a lenders standard variable rate (see SVR below). Best to speak to a whole of market mortgage broker to compare your existing mortgage to a new product. We will calculate the cost to set up and the savings you make.
You may prefer a longer fixed rate, again call us if you need advice, we have access to the whole mortgage market.
Leeds BS 5.69%
Skipton BS 4.99%
Nationwide BS 3.99%
If you’re unsure what your lenders standard variable rate is, please call us…