Homeowners contemplating remortgaging their property may be inspired to take the leap following a new house price report that spells good news for mortgage deals.
The report from Your Move assessed the housing market across England and Wales and found a new house price high with an average price of £303,200 for May. The report also shows a month on month increase in the average house price of 0.3% and a year on year increase of 4.8%.
As a result, lenders across the country have released hundreds of mortgage deals with better rates than have been seen in years. Many of these deals have long terms, historically low rates and extra incentives added to sweeten the deal.
Thanks to such rewarding and cost-effective deals, there’s never been a better time to remortgage, especially with economists predicting that the aforementioned deals are unlikely to last and interest rates may surge.
By ‘locking into’ affordable mortgage deals, homeowners can protect themselves from interest rate increases and maintain their budget. Five year fixed rate deals could prove to be invaluable safety nets against financial uncertainty.
House Price Report Spells Good News For UK Homeowners Wishing To Remortgage
Homeowners contemplating remortgaging their property may be inspired to take the leap following a new house price report that spells good news for mortgage deals.
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