Look out for a new home loan, says John Charcol mortgages

Date:Wednesday 21st July 2010
Author: Max Freedman

Homeowners should keep their eyes out for remortgaging arrangements currently as they could save money, according to a spokesperson for John Charcol mortgages.

Drew Wotherspoon, director of marketing at the firm, explained that consumers could be "considerably better off" if they were to remortgage in the current climate.

"For those borrowers who are in a position to remortgage it would seem that they are waiting for some movement in bank rate, or at least some more definitive information," he said.

In his view, this can be a prudent strategy, but the best action to take is for people to get professional advice about whether they should look out for a new home finance deal that may be better value for money.

Recently, John Charcol mortgages highlighted how the base rate has stayed at the same level for 16 months now, which is the longest period of time since the Queen ascended to the throne.