As a new year draws closer it is a time to make efforts to change things.  Usually on the top of everyone’s list is the desire to make lifestyle changes that demand better savings and more disposable income.  By looking at where savings can be found a person could end up with just what they are hoping for and one place to begin looking is at a remortgage.

Lenders are competing for borrowers currently.  The Funding for Lending Scheme put into place in the summer by the Bank of England has kept funds readily available to borrowers and interest rate offerings on remortgages low.  In fact, historically low interest rates developed thanks to the scheme and some offerings from lenders dropped to below 3%.

Because there is a competitive market currently in mortgage lending it can be a good time to consider shopping around for a better deal on a mortgage.  By lowering the interest rate on such a substantial debt, which is usually the case for a mortgage, a homeowner could find substantial savings by just choosing to remortgage.

Lenders are not only offering attractive remortgages with lower interest rates but many are offering great incentives to make a deal soon.  There are some that offer free legal work and valuations.  While it is true that the best remortgage offers will be reserved for those that can meet low loan to value levels the ones offered to those that have to borrow at higher loan to value levels are still very attractive and could still save a homeowner money.  Consideration of a remortgage in the new year should make every homeowner’s to do list for 2013.