Rate rises offer brokers remortgage opportunity
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Mortgage brokers have significant remortgage opportunities by advising clients to switch to a fixed rate deal, says direct conveyancers, Goldsmith Williams.
Eddie Goldsmith, senior partner at Goldsmith Williams, says the lack of demand is being driven by low rates and tighter lending criteria, both of which are acting as disincentives for borrowers to remortgage.
He adds: “But now is the time for many borrowers who are enjoying low variable rate deals to consider locking into fixed rates, to offset what could be a significant payment shock when rates do rise, as they inevitably will do at some point.
Goldsmith Williams is keen to help brokers capitalise on these opportunities, which is why we have agreed to continue our popular fee free conveyancing deal throughout 2010. This deal enables clients to keep remortgaging costs to a minimum and rewards brokers for their efforts.”
The deal is available when brokers instruct Goldsmith Williams rather than use a lender’s fee free scheme
Readers' comments (2)
Jonathan Miller | 12 Aug 2010 10:29 am
That's 1-0 to Goldsmiths for stating the obvious! Next week are they going to say Repayment is better in the long term than Interest Only?
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Ancient Wisdom...is a mortgage broker in N3. | 12 Aug 2010 11:44 am
Solictors are a clever bunch arent they? - why would any client on a 2.50% tracker (or BBR _ 0.50%) want to remortgage to a HIGHER rate unless they couldnt sleep at night for fear of rate rises?
As for the statement its better to remortgage to a lower rate if you are on a higher rate - well done! Another gold star for you boffins at Goldsmith Williams!
Goldsmiths would say anything to get more remortgage work unfortunately, the brains behind this statement needs to stick to conveyancing rather than financial advice.
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