Remortgage has been a topic in quite the spotlight lately due to the elevated amount of activity taking place within the sector. Many households are deciding to remortgage and save money as they acquire a lower interest rate and cut the cost of their monthly mortgage payment. These same remortgagors are deciding to exercise an option which has become more popular over time, especially with so much news of the housing shortage in recent times. They are accessing home equity and borrowing funds to renovate their house.

A valuable option when a homeowner chooses to remortgage is borrowing against the value of their home and using the cash to update and renovate their home. This is in turn making their house more valuable as many news items focus on the massive shortage in housing which is only getting worse. Homeowners are not being shy either. During the last twelve months alone, more than 20% of all remortgagees have chosen to access cash and secure a loan to either renovate their existing home, pay off old debt, or potentially take themselves and their loved ones on a holiday.

The process is much less daunting than it appears. Applications can now be submitted online and approvals are possible in days, not weeks.

Accessing home equity cash is a part of the process which is often left to itself. Even though thousands of people continue to remortgage, accessing a valuable resource like cash can be a game changer. The world seems to open up and become more hopeful when planning something like home improvements and renovations.