Save on your remortgage using our rate monitoring service

For many homeowners looking to remortgage, the last eighteen months has been a waiting game. An uncertain one, at that. Who wants to go from paying 2% to 5% for their next mortgage? Or, worse, waiting it out on a lender’s SVR before taking the plunge with a new mortgage deal?

Sick of waiting for a ‘decent’ cut in mortgage interest rates, our clients are asking what they should do. There are several possible options, but there are two we’d recommend, after this short video:

Option 1: Mortgage rate monitoring service

Our free mortgage rate monitoring service is ideal for people who want to lock in their next mortgage deal up to six months before their current deal expires, avoiding the risk of drifting onto their existing lender’s expensive variable rate.  But people hedging their bets, waiting to see where rates are going, can use it too.

It works like this.

We secure a product transfer/switch with your current lender or a remortgage with a new lender for you. This can be up to six months ahead of your current deal ending.

If mortgage rates reduce (potentially multiple times) between the point we secured your new deal and its completion, we can switch you over to the lower rate.

If the rate goes up in that same period, you stay on the same rate you ringfenced at the beginning of the process. Win-Win!

Our mortgage rate monitor tracks thousands of product transfer and remortgage rates. It’s ideal for homeowners who want to plan their future budgets. It also ensures anyone using it locks in their next deal at the lowest rate available over the entire six-month window.

Option 2: Interim tracker mortgage

There was a time when only the boldest homeowners used tracker rate mortgages. But now, tracker rates are (mostly) much lower than a lender’s SVR. As tracker mortgages don’t incur early repayment charges (ERC’s) or penalties, they can be a viable option in the short term.

You then stay on that tracker rate until such a time as rates are more palatable for you. At that point, you take out a new fixed deal. In short, tracker mortgages can be a great interim measure for people not quite ready to commit to a new fixed deal.

Don’t wait for 2% mortgage interest rates

We know it’s painful moving from a sub-2% (or even sub-1%) deal to a rate up to three times higher. But it’s still better than being on a lender’s SVR, which can change by the month.

Do something positive about your future mortgage payments today. We’ll work with you in whatever way we can to soften the blow of remortgaging to a higher rate. The sooner you act, the sooner you’ll be able to nail down your budget for everything besides your mortgage.

Talk to the experts today.