Remortgage deals should be snapped up, says investment adviser

Friday, May 28th 2010

Remortgaging your home may be a wise move in today's financial climate.

Stuart Law, chief executive of property investment advisers Assetz, expects to see a rise in the number of people taking out a remortgage on their home.

For people who need to release the capital tied up in their homes, or those who simply want to cut their monthly costs, now is a good time to think about a remortgage, he adds.

"There are some very good deals out there, particularly on homes as opposed to buy-to-let property".

Loan-to-values and property prices have dropped as a result of the credit crisis, which made it difficult for people to remortgage. Mr Law is confident the only way is up for the remortgage market.

According to the Council of Mortgage Lenders, house purchase loans were up 45 per cent in March compared with figures from last year. However, remortgaging has continued to fall year on year, down 29 per cent on 2009.