Thinking of Remortgaging?

April 6, 2018

We’re almost two years into the aftermath of the Brexit vote and against all odds consumers have continued to spend money, global growth has supported British manufacturers and the economy is showing signs of slight improvement. Inflation came down from 3.0% to 2.7%, (although admittedly, this is still way off the governments 2.0% target) so according to economists, it was inevitable that we would see a hike in interest rates this year – with May or August looking to be the likely timeframe.  

A rise in rates would be great for some but not for others. If you are one of the 45 million people who are savers then you will continue to benefit. November 2017 saw a 0.25% increase, so this anticipated rise will continue the steady climb. If you are one of the four million households who have a variable or tracker mortgage then you are likely to see your monthly payments increase again. Of course, for those on fixed rate mortgage this won’t come into effect until you have reached the end of your rate control period, so the anticipated May or August timeframe need not worry you too much.

Mortgage lenders saw a large spike in the number of remortgages in January 2018 – up 19.1 per cent on last year, but with an anticipated interest rate hike on the cards it’s no real surprise that borrowers want to secure the best deal and steady themselves for the years ahead. 

Amidst this uncertainty lenders are trying to remain competitive and as a result changes to rates are fluctuating continuously. It’s a tricky task to stay abreast of this but as one of the UK’s leading independent mortgage brokers we at Fitch & Fitch are well placed to assist.  

If you are remortgaging then now is the perfect opportunity to look at your personal circumstances and re-evaluate. Look at your current situation, consider offsetting any savings you have to reduce the term of your mortgage, or while rates are still low, maybe consider increasing your mortgage payments so that you can pay it off in less time. 

Whatever path you want to go down, we at Fitch & Fitch are here to guide you through - comparing rates and products from over 90 UK and International lenders so that you can make the right decision for you





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Fitch & Fitch is a Trading Style of Fitch Financial Ltd. Fitch Financial Ltd is an appointed representative of JLM Mortgage Services Ltd which is authorised and regulated by the Financial Conduct Authority (FCA) Registration Number 661830 & 300629.


The FCA do not regulate some forms of mortgages. The guidence and / or advice contained within this website is subject to the UK regulatory regime and is therefore primary targeted at consumers based in the UK. JLM Mortgages Services  Ltd registered in England No 4701803. 


A fee of up to 1.0% of the mortgage amount may be charged depending on individual circumstances. The exact fee charged will depend on the amount of work undertaken. A typical fee is £495.



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