For many years, the term remortgage has not carried the value of a true difference maker to a family household. Now, however, that has certainly changed. Remortgages are now flying off the shelves of lenders everywhere and there are several reasons why. The current period in time is being viewed by many experts as the perfect time to remortgage and big savings are being taken advantage of by numerous families.

According to suggestions by many experts, the time to remortgage is now, and there has not been a better time in more than eight years. House owners everywhere can find significant savings through remortgage, and especially those nearing the end of a two year fixed deal.

Remortgage has not been a popular mortgage lending tool until recently. But now, it is viewed as the go to for saving money each month. Lenders are offering deals with extremely low interest rates attached. These rates could be coming to an end soon with several signs pointing in that direction. Those still on the fence about a possible remortgage are urged to act soon.

A Moneyfacts representative commented on the current climate surrounding the remortgage sector, saying: "Mortgage rates may be showing signs of rising, but that shouldn't dampen borrowers' desire to remortgage, particularly those coming to the end of a fixed two-year term.

"Indeed, our latest figures show that motivation to remortgage has hit its highest level since 2008, and by all accounts it's only going to increase in the months ahead.

"That's because the difference between the average standard variable rate (SVR) and the average mortgage rate of two years ago is on the rise, and has now hit its highest level in more than eight years.

"This suggests that motivation to remortgage is now the strongest it's been since the financial crisis, for the simple reason that borrowers are now faced with the choice of remortgaging to a lower rate, or reverting to their lender's higher SVR. It's a no-brainer."