High Street Lenders are doing all they can to make sure the activity within their four walls do not slow down with the freeze of the inevitable winter.  What are they doing?  Going as far South as they can in regard to mortgage interest rates.  What several months ago seemed an impossible level for interest rates to drop to now seems like the norm.  The current theme of the mortgage lending community is get loans approved anywhere and by any means necessary.

The variations of deals available covers the entire spectrum as well, with five year fixed deals being offered at less than 2.80%.  This would be an attractive deal for anyone looking to buy with a couple of exceptions – deposits, or equity of at least 40% is required.  Additionally, this deal comes with a 1,000 pound fee attached to it.  With wages falling, creating more than ever a difficult time in saving, and all other life necessity costs rising, coming up with a deposit that size will be challenging for most.

A product which still is not receiving as much advert time as it should is a remortgage.  These products are sitting alongside original loan products with just as much shine on them.  The benefits of remortgages are numerous but it will take a little more effort to discover them compared with original loan products.

For those with enough equity in their home and the ability to pay the administrative costs connected to a remortgage, the benefits can be bountiful.  They include but are not limited to the following: a possible lower monthly mortgage payment, extra money for old debt cleanup, and the ability to make home improvements which were not considered before.