Borrowers who need a mortgage because their current fixed-rate agreement is coming to an end, or because they are buying a home, should explore their options as soon as possible.
What happens if I have to remortgage?
Borrowers should compare rates, talk to a mortgage broker and be prepared to take action.
Homeowners can sign a new contract six to nine months in advance, often with no obligation to accept it.
Most mortgage transactions allow fees to be added to the loan and are charged only when contracted. This means borrowers can get a rate without paying expensive processing fees.
Please note that by doing this and not paying off the fee once completed, interest will be paid on the fee amount for the entire term of the loan, so this may not be the best option for everyone.
What happens if I buy a house?
Those who have agreed to buy a home should also try to lock in rates as soon as possible, so they know exactly what their monthly payments will be.
Buyers should avoid overdrafts and be aware that home prices may fall as high mortgage rates limit people’s purchasing and borrowing power.
How Mortgage Costs Compare
The best way to compare mortgage costs and find the right deal for you is to speak to a broker.
Money has a long-standing partnership with free broker L&C, to provide you with free specialist mortgage advice.
Interested in seeing today’s best mortgage rates? wear This is the best mortgage rate calculator from Money and L&C To show you offers that match your home price, mortgage size, term, and specific rate needs.
If you’re ready to find your next mortgage, why not use L&C’s online mortgage finder? You’ll search over 1,000 offers from over 90 different lenders to discover the best deal for you.
> Find your best mortgage deal with It’s Money and L&C
Please note that rates can change quickly, so if you need a mortgage or want to compare rates, speak to L&C as soon as possible so they can help you find the right mortgage for you.
Mortgage services provided by London and Country Mortgage (L&C), which is authorized and regulated by the Financial Conduct Authority (Registration number: 143002). The FCA does not regulate most buy-to-let mortgages. Your home or property can be repossessed if you default on your mortgage.
