Lenders are battling to stay in the mortgage lending game and opportunities continue to open up for those able to afford them.  Remortgages are also on the table with attractive rates attached to them.  Some lenders are cutting their remortgage rates by almost an entire percentage point.  Rates have been advertised for remortgages at 90% Loan to Value with an attached interest rate of less than 4.50%.  Competition remains keen for those able to generate enough of a deposit to afford their own property.

Remortgages continue to act as a dark horse compared to an original mortgage.  Many homeowners are still unaware of the exceptional benefits of a remortgage and it is up to the lending institutions to educate them of what to expect.  Lending institutions are well versed on the fact that a remortgage does not generate income compared to an original mortgage.  Remortgages do however give all homeowners the option of being able to change lenders if they see it beneficial.  While original loans make it possible for lenders to become the first contact bank for a property owner.

Remortgages are the paved avenue for many homeowners to receive benefits not thought of on a regular basis.  Saving money off a fixed monthly mortgage cost, obtaining extra cash to use as a way to pay off old debt, and fixing up the existing property by making improvements are just a few ways that a remortgage can make a difference.  The difference will not only change a short term financial outlook, but long term as well.