Experts are now trying to assist consumers in obtaining a remortgage and pointing out that there are ways to avoid the high fees that banks are charging. More homeowners than ever are interested in remortgages, but they may not have all the facts. Experts urge these homeowners to educate themselves on remortgages before they apply, so that they can be assured of getting a good deal on this type of loan, regardless of the bank they go to for help.
Richard Morea of London & Country says, “You won’t have to pay an upfront fee for the remortgage if, as many do, the lender offers either the option to add the fee to your overall loan, or for you to pay it at completion of the remortgage deal.”
“I doubt that you will get anything much cheaper over the next two months, so I would advise playing safe and submitting an application now,” says Ray Boulger of John Charcol.
Andrew Montlake at Cobalt Capital said, “These are between 0.5 per cent to 1 per cent cheaper than fixed rates and – in the current market conditions – it’s unlikely that rates will increase dramatically in the short- to medium-term.”
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