Lower interest rates
At long last, interest rates have started to head down again. A quarter per cent cut in early December with probably more to come in February is good news for existing borrowers.
It could also be a bonus if you’re coming to the end of a fixed rate mortgage deal, and you’re looking for a new one – as you may find new fixes a little cheaper than they were.
But beware. The lack of credit has seen many mortgage lenders not just turning down applications, but whacking hefty arrangement fees on. Make sure you look at all the costs when you’re remortgaging.
