Mortgage lending in the UK is the highest it has been in 7 years.
There are now many more properties in the market than there have been in
a long time. This could be because there is a lot more property
development coming up across the nation. It could also be because there
are now many more developers than there were before. Either way, what
this means for you is that it is a great time to refinance – it is much
easier to qualify for a better rate.
Why are interest rates so important right now? Because although gross
mortgage lending is high, there is no guarantee that the interest rates
will become any lower. Whilst it is true that the trouble in Greece is
all but over, there is little evidence that the country will not default
again. As things stand, there is still a very high rate of
unemployment, there are hardly any exports and the government is still
having trouble paying its workers. There is no guarantee that the
country will not be in trouble again, and this may be soon. As someone
who is looking to refinance, you should take advantage of 2 things: the
fact that you are more likely to qualify now and the fact rates may go
up in another few years. It may be best to take a fixed rate remortgage
because of this.
A company like Mortgage Advice Services can help you find the best deal
there is. They have been helping people with mortgages and refinancing
in the UK for many years now and there is no doubt that they can help
you. They have worked with most of the lenders in the market and that is
why they are able to identify which ones are offering the best remortgage deals.
Their process is a simple one. They have an online form where they
require you to tell them how much you would like to borrow, the
estimated value of your property, who your current lender is and how
many years you would like the mortgage over. They also ask you a few
additional questions about your finances. They will then give you a free
quote showing you how much you could save. You can find out more by calling 01332 257 087 or visiting
their website, http://www.mortgageadviceservices.co.uk/remortgage.htm.Labels: benefits of re-mortgaging, fixed rate mortgages, interest rates
