Homeowners have a unique opportunity to not only find savings for their household budget, but also to inject cash flow into it. There are lower interest rates on the remortgage market now in comparison to a year or more ago when homeowners likely secured their mortgage. Rather than letting their mortgage term end and being moved to their lender’s standard variable rate (SVR), a homeowner could remortgage with a lower interest rate and save money. For those that have had their property equity grow, they could turn their equity into cash with a remortgage.

All in all, homeowners could remortgage to lower their interest rate, lock in a fixed interest rate so they are assured they can escape rising rates in the future months, and for some the savings could be substantial. Yet, with an equity cash release remortgage, the benefits grow with the homeowner being able to realize savings as well as having cash in hand.

An equity cash release remortgage enables a homeowner to do as they need with the cash. In recent studies, it was revealed many homeowners are using the cash to invest back into the property and increase the property value. Home improvements are a growing reason for homeowners to turn their equity into cash. 

The ability to upgrade a property could allow a family to remain in their current home rather than needing to move whether to make room for a growing family, to have a new kitchen, or to have more efficient heating or cooling. No matter the reason for home improvements, the point is there is a possible way to get it done even in the middle of a pandemic if the right remortgage is found.

Homeowners are encouraged to have a plan for their improvements in place. Quotes for work that must be done, and more can put into focus the amount needed. Then shopping for a remortgage online is a logical next step. Quick information could be found online from remortgage brokers and lenders as to what deals, savings, and cash could be found.

Homeowners should not miss out on making the most of more time at home during the pandemic which could include home improvements made possible by a low interest rate savings and equity cash release remortgage.