Independent Financial Life Planners Bishop's Stortford: Is this the time to remortgage?

Thursday, 29 October 2015

Is this the time to remortgage?

Rising house prices and mortgage regulations are making it harder for first-time buyers, but if you already are a borrower there has probably never been a better time to look in to remortgaging. "The appetite for remortgages began to gather pace in the second quarter of 2015, with an increase in the value of applications of 14 per cent year on year.” Said Martin Richardson, director of business development at Leeds building society, and "The value of remortgage applications started to accelerate rapidly during late summer, soaring by almost 60 per cent in August compared with a year earlier.”

These figures are being driven by a couple of key factors – the remortgaging market offers relatively low risks so lenders are happy to address this area of the market meaning that compared to last year, there are now 300 more remortgage products to choose from. This competition has a positive knock-on effect, with the price of the loans having fallen in recent months. In some cases there are even some excellent fixed-rate deals are available, whether you've got equity of 40 per cent or 10 per cent in your home.

Enable’s experienced IFA’s in Bishop’s Stortford are regularly discussing how the combination of very low interest rates, and the wide choice of remortgage products, especially for those who are interest- only borrowers make it an interesting time to consider change.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Issued by: Enable Independent Financial Life Planners  25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339  Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.