Better remortgage deals as prices recover
A leading estate agency in The Potteries is advising homeowners in the area that now could be the best time to remortgage as prices show positive signs of recovery.
Heywoods Property, based in Newcastle-under-Lyme, said that gradually rising house prices throughout the latter half of 2009 have meant that homeowners have been recouping some of the equity that they lost when the housing market slumped.
The company, which also helps homeowners to arrange finance through its independent Mortgage Advice Bureau, said that an increase in equity meant that more homeowners had access to the better mortgage rates available for larger deposits.
Interest rate deals have steadily improved as the credit crunch has eased and more competition has returned to the mortgage market.
But Heywoods stresses that the housing market still remains fragile and warns homeowners that it may be the best time to remortgage if they are to be sure of getting one of the attractive interest rate deals currently on offer.
And for some homeowners it may also be the best time to move as they could find they're better off stepping up now and taking advantage of the competitive fixed interest rates available rather than staying put.