There are only two months left to 2019 and as the year closes it appears that homeowners are being offered the most optimal remortgage opportunities so far. The lending environment for mortgages and remortgages is very competitive. Lenders are aware there were a large number of homeowners due to have their current mortgage deal end in October and November. To gain the attention of those homeowners, lenders are putting out attention grabbing remortgage deals.

Not only do those due to have their current mortgage deal end have an opportunity, but also those that already had their deal end and did not choose to remortgage when the deadline came and passed. Those homeowners were moved to their lender’s standard variable rate (SVR) and are likely connected to an interest rate that is pushing them to pay more on their repayments than necessary.

Remortgages with low interest rates could offer a homeowner a savings over their current mortgage interest rate and most likely an SVR. SVRs are at an interest rate level now that is double or more what a homeowner that mortgaged two or more years ago would have been used to paying.

Savings could be discovered with remortgaging and in some cases there could be a substantial savings.

No one knows what the lending environment will look like next year. As for now there are savings to be found with a remortgage and there are many remortgage products on the market with low interest rates attached to the popular fixed rate remortgages. With opportunity available now to save, and the unknown in the year ahead, taking action sooner rather than later might be the best choice for homeowners.