29 June 2021
A low rate might be a good starting point when checking out the best mortgage deals, but Kevin Roberts explains why it’s essential you investigate some other vital factors too
There are well over 700,000 homeowners in the UK who have fixed-rate mortgages coming to an end in 2021, which means many will need to find a new mortgage product to keep their monthly repayment costs down.
Unless they can refinance onto a new deal, these people risk automatically switching onto their lender’s Standard Variable Rate (SVR) – which normally means paying a much higher rate.
Fortunately, with plenty of low-rate deals on offer, now is a good time to be looking for a new mortgage.
However, when it comes to finding the best new mortgage, there is more to take into consideration than just the headline rate.