Remortgage activity remains subdued since the economic crisis planted itself globally several years ago.  Although numbers of remortgage approvals grew during the fourth quarter of 2011 by 32% quarter on quarter, last year fell off considerably.  The fourth quarter of last year only saw an increase of 28% compared with the third quarter, indicating a slowdown of sorts.  The Financial Services Authority also reported the amount of high loan to value products which were being taken advantage of.  Loan to Value lending of 90% or more only accounts for 2% of all lending.

Remortgages are still going unnoticed on a broad scale.  Even though the number of homeowners which could find a remortgage product to benefit their financial situation has slightly decreased within the last few years, the product on the whole is underused.

Remortgages offer several benefits for those who are in a suitable position.  For one, a remortgage can finally offer a homeowner the opportunity to lower the amount of monthly mortgage payment they are obligated to.  Additionally, a remortgage brings with it the potential to put extra cash into the hands of citizens who desperately need it.

Homeowners who need cash to improve their houses could possibly find the money within a remortgage product.  Other possibilities await those who take the time to quickly apply for a remortgage.  The chances to pay off old debt as well as take a much-needed holiday are both possibly within reach.  Remortgages can be researched online and can be applied for at the same place.