The freedom to change personal insurance providers has always been just that for anyone in the UK owning a car or home. Freedom to make changes from one vendor of insurance to another whilst the time may be right has been an attractive feature of living everyday life. Now, that freedom may be a little closer to changing for some types of cover. A service has already been introduced to consumers which changes auto insurance providers from one to another if the savings reaches a particular point.  Some are of the impression that the housing market may not be far behind when it comes to remortgage.

A partner of a car insurance provider now uses an automated service which changes the consumer’s tariffs if the savings total more than £50. This raises some eyebrows, but in the opinion of some experts it makes changing vendors less painful for consumers than actually changing themselves. Now, talk of the same process taking place for remortgage is being discussed.

Switching from one mortgage lender to another is not easy and takes a major leap of faith for those owning property. It is not one of those easier decisions like where to purchase petrol this morning if one store is busy whilst driving to work. The mortgage carries much more weight than most other items being paid for each month. Actually, it is typically the largest outgoing for any property owner each month.

Remortgage is now in the spotlight and cannot easily be moved from it. It has the ability to save massive amounts of money each month and has changed the financial future of many house owners across the country.

Some close to the housing market claim a shakeup like this in the mortgage and remortgage lending sectors might not be far away if it proves to benefit the everyday property owner and is a good fit for the future.