There’s been a recovery in property prices since April which has left homeowners in a stronger position.
Many may be in the best position to remortgage in more than two years, especially as lenders offer better rates to people with more equity.
Several mortgage experts believe that borrowers who are on their lender’s standard variable rate (SVR) should think about remortgaging now – especially as the only plausible direction for bank base rate to move is up. That’s a return to the situation before the credit crunch, when conventional wisdom dictated that anyone on their lender’s variable rate could get a better deal elsewhere and should remortgage.
Source – The Independent
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Justin Moy