The new year is only days away and while the calendar date will be new, some things will remain the same. The pandemic will still be with us, and the housing market is expected to stay pretty much as it is through early spring. Lending might tighten somewhat, but opportunities are still to be available in mortgages and remortgages. Low interest rates, competitive lenders offering attractive deals, and a variety of products from which to choose will keep demand strong from home buyers and homeowners.

A popular remortgage product is the equity cash release deal. Some borrowers also call it the cash release remortgage, or cash back remortgage. The homeowner chooses a remortgage most likely for a lower interest rate, a fixed rate, or both offering distinct benefits, but as an additional benefit the homeowner can release built up equity into cash. The cash can then be used by the homeowner for what need they wish.

The housing market has been resilient during the pandemic and most homeowners have seen their property values climb monthly. That built up equity could be released into cash with a remortgage.

A popular use for the cash has been for homeowners to better equip their dwelling for the pandemic lifestyle through improvements and upgrades. In turn, depending on the choices made, not only could it offer a more appropriate or comfortable area in the home to work, study, or enjoy entertainment, but increase the value of the property. The home becomes more pandemic lifestyle friendly and the money obtained through increased equity contributes to greater value.

Homeowners are encouraged to obtain professional advice on an equity cash release remortgage, for it might not be the right choice for everyone. For those that find it is, the deal could set up the homeowner for a better new year ahead as well as offer substantial savings with a lower interest rate.