There are less homes coming onto the market dropping the supply of homes available for purchase.  This is due to the weak housing market that offers few buyers for homeowners that are looking to move and upgrade their property.  Without a buyer to take on their starter home there is little to no possibility of upgrading to a larger property.  Fewer homeowners are moving home and buying a new property instead most homeowners are choosing to remortgage.  Instead of upgrading to a new property some homeowners are remortgaging and making investments into their own home through renovations and improvements.

Remortgages are an opportunity to fund a major or even a minor renovation to a homeowner’s property.  Depending on the renovation completed property owners could be making a huge value increase on the property which will later on make their property more appealing to buyers when the market changes and they are ready to make a move.  The investment into the property is also a smart decision since borrowing is so cheap.  Low interest remortgages are the norm with almost any lender currently.

Lower interest rates have been showing up in the past few weeks as lenders have chosen to drop the rates on their offerings in an attempt to bring in homeowners.  Not only are rates dropping but the deals are being sweetened up by great incentives to remortgage.  Some are offering no fees; others are offering no cost valuations or free legal work.  Sometimes the remortgage deals offer all three, as well as a low interest rate.  Homeowners can take advantage of the slow housing market and grab a remortgage to fund home improvements that will pay off down the road with a higher selling value as well as a home that demands attention of more buyers by being upgraded and more modern.