Perhaps a more hopeful outlook for growing equity and a cheap remortgage in the future could be had by homeowners this holiday.  Homeowners should expect lenders to continue offering low interest remortgages throughout the end of the year.  For those that have yet to remortgage and could benefit it should come as good news that experts believe that deals could get even better as lenders become more competitive.  Demand has remained low for remortgages and due to that lenders are putting out better offers and interest rates to get the attention of homeowners.

As far as equity rebuilding for property owners that will occur once buyers return to the market and house prices rebound.  There is an expectation that a boost may be on the horizon as home buyers take advantage of low interest rates and smaller deposit requirements from lenders.  The buying season prior to Christmas usually shows a strong showing from buyers and experts believe the low interest rate loans will help in making the seasonal trend continue.    

The ability to remortgage is especially important for those that have had their current mortgage deal end and have moved to their lender’s standard variable rates (SVR).  Months ago lenders started increasing their SVR and some have done so a second time.  For those that are on their lender’s SVR the only way to escape the rising SVR and higher repayment amounts on mortgage debt is to get a new deal. 

Homeowners should shop around for a new deal and consider putting aside loyalty to their current lender if getting a better interest rate is possible.  Paying less interest on mortgage debt for the next few years could be the best way to start out 2013.