Homeowners have to take on considerable stress as many are being faced with family members requesting help to buy their own property.  Buyers are still finding it difficult to meet the high demands of lenders.  Deposits are at levels many experts consider unreachable in a lifetime for the average UK worker and the criteria for approval is difficult to meet.  Only through the help of family members are many new home buyers able to afford their purchase.  The funding for most is coming from a remortgage taken out by the homeowner.

Luckily homeowners are finding remortgages have low interest rates connected to them.  This makes the borrowing affordable.  However, it is important to realize that it can be a risky venture for a homeowner to take out a remortgage for lending to another person for it puts their own property at risk.  If the homeowner fails to make the remortgage payments then they can lose their own property.

Remortgages have been used for helping others get into a new property for several years now.  The economic crisis has made homeownership a very rare situation rather than a normal occurrence.  Housing market experts are in the majority for considering that many UK households will never own a home and are destined to have generations of renters versus homeowners.  It is only with the help of family members that many can afford to purchase.  Those that buy are lucky not only because they get to own their property but because research has shown that mortgage payments are below the level of rental fees.  The benefit is immense to the family but for the homeowner taking out a remortgage to lend to the family member the risk is high in most instances.  Remortgages should always be a very careful consideration even when rates are cheap.