While some homeowners are seeking out remortgages there are many that are finding an approval difficult.  This is where remortgage experts such as a remortgage broker could be helpful.  Many homeowners go out and seek a deal on their own, only to be turned down and then have a mark against them on their credit rating due to the denial.  Instead bringing on a remortgage broker could be of benefit and the homeowner is likely to achieve success with their application.  A remortgage expert can also be beneficial for those homeowners that have lender loyalty.

Remortgage brokers deal with remortgages day in and day out, where as a mortgage lender specialist would deal with many kinds of mortgages and not solely remortgages.  Remortgage brokers also are of benefit due to the fact that they work for the homeowner to find the best remortgage deal among many lenders.  They also know which lenders work best with particular kinds of remortgages such as a contractor remortgage. 

There are also those homeowners that feel a loyalty to their lender.  The lender that gave them a chance on their home purchase can retain loyalty from a homeowner, yet this loyalty can be ill spent if it keeps the homeowner from obtaining a good remortgage elsewhere.  Again, this is where seeking the advice from a remortgage expert can benefit and help the homeowner realize that the remortgage industry is a business where the customer often has more loyal ties than the lender does. 

Forecasters believe that May is a likely time for the interest rate to rise.  The Bank of England’s Monetary Policy Committee will have access to first quarter data, including the GDP when deciding in their May meeting about the need of a rise in the rate.  Meanwhile, those homeowners that can leave their lender and could benefit from a remortgage should have an open mind and seek advice of a remortgage expert.  They can then make a well informed decision that is best for their remortgage needs and their financial health.