With mortgage rates currently at a record low it is widely expected that rates will soon begin to rise, meaning that it could be a good time for landlords to consider remortgaging.
Figures from the British Bankers Association indicate that many landlords are reviewing their options, taking advantage of competitively priced offers, and securing fixed rate deals before they disappear.
As well as protecting against Base Rate increases, the competitive nature of the mortgage market may mean that landlords can actually cut their mortgage costs now.
Assuming a base rate increase in spring 2016, it is likely that we may actually see interest rates gradually rise before then – so remortgaging a day before the base rate increase won’t be a good idea!
Our office has teamed up with London & Country to offer fee-free Independent Mortgage advice, so now may be the time to consider your remortgage options. Please give me a call on 01243 887887, and we will be happy to put you in touch with one of their expect advisers.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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