The Telegraph - Homeowners ‘should cash in’ as banks reduce mortgage rates
The Telegraph reports that the coronavirus outbreak may have caused chaos in the property market, but it has also given existing homeowners an opportunity to save thousands of pounds by remortgaging.
Market analysis by CACI, a consultancy, has found that 11pc of all mortgage maturities this year will take place in April, with more than £20bn of loans reaching the end of their initial term. Barclays also has some incredibly cheap tracker rates.
Aaron Strutt of Trinity Financial told The Telegraph: “If your mortgage rate is coming to an end you need to act because lenders will still hike your rate, with or without the current crisis.
“Lots of lenders have scaled back their mortgage ranges, but there are still some great deals on offer and they will almost certainly undercut the rate your current lender will offer you.”