REMORTGAGING FIXED RATE DEALS ENDING IN 2008

Many borrowers are facing the end of their current fixed rate deal in 2008. Since taking out their existing deal interest rates have risen, and borrowers may experience potentially substantial increases in payments.

The other significant change in the last couple of years, is that the level of arrangement fees charged by lenders has also increased significantly

There are a number of options for borrowers in these circumstances. A new deal may be obtained from the existing lender, choosing from their range for existing customers. Many of these will include an arrangement fee.

Alternatively, a deal may be arranged with a new lender. Many lenders provide a free valuation and free legal work for remortgages. Many new deals will include an arrangement fee, but not all.

Should you wish to investigate which is the best option for you, or discuss any other financial matter, please contact Bob Norris of Kinsella Clarke on 0151 933 3400

Kinsella Clarke are the recommended Independent Financial Advisers for members of Merseyside Police Federation.

Advice is free for Group Insurance members.

For further information about Kinsella Clarke, please visit our website at www.kinsellaclarke.co.uk