Homeowners Options in Remortgaging Help Relieve Brexit Anxiety

Homeowners Options in Remortgaging Help Relieve Brexit Anxiety

Homeowners are finding that remortgaging can offer peace of mind against the uncertainty of Brexit. Should interest rates be hiked by the Bank of England’s Monetary Policy Committee (MPC), homeowners with a remortgage could escape having to pay more on their repayments. The good news is that lenders, though perhaps less competitive than a few months ago, are still trying to get the attention of borrowers and are offering attractive deals.

Experts suggest that homeowners that are close to having their mortgage deal end shop around online and discover what savings could be available. By gathering information on the benefits a remortgage could offer, the homeowner can make a more educated choice of what would be helpful to their financial future.

For those homeowners that have not remortgaged and have had their current mortgage deal end, they should compare their lender’s standard variable rate (SVR) against what they were used to paying and the interest rate of a remortgage. Many reports have shown that SVR interest rates could be double or more the level that homeowners are used to paying if they mortgaged two or more years ago.

Rather than paying more than necessary and worrying about the uncertain future after Brexit, homeowners have the opportunity to seek information about remortgaging now and should the options be good they can take action.

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