The Times - Remortgage before the best loans disappear
Lenders have started pulling their best rates after weeks of introducing record lows, prompting concern that millions of borrowers stuck on expensive default rates should remortgage now before it’s too late to get a good deal (Francesca Steele writes).
Swap rates — the wholesale rates that determine the cost of fixed home loans — have been climbing since February, and lenders are now beginning to react.
Aaron Strutt, of Trinity Financial, a broker, says: “Unless you’re on a particualry good lifetime tracker of, say, 0.19 per cent, I would still advise anyone thinking about remortgaging to do so now. ”
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