The demand for remortgaging has been strong in recent months. Homeowners have found a way to escape paying higher interest rates found on their lender’s standard variable rate (SVR). When a homeowner’s current mortgage deal ends, if there is not a remortgage, then the lender moves the loan to a SVR. By getting a remortgage, a homeowner doesn’t have to pay more on their repayments than they are used to paying.

Most homeowners immediately think of getting a remortgage with their current lender. However, experts encourage homeowners to throw their loyalty away and instead find the best deal possible even if it isn’t with their current lender. The best deal could be found with a different lender and with the possibility of substantial savings on the line, a homeowner really should seek the best opportunity available.

Even those with complicated remortgages should not be afraid to go beyond their current lender in search of the best deal.

Some homeowners will find that a remortgage broker can be helpful, especially those with a complicated situation that would make remortgaging difficult. Brokers work with several lenders and work on behalf of the borrower to find the best deal among those possible lenders. They also often have special remortgage offers from lenders that aren’t available directly from those lenders to the public.

By using a broker it could offer confidence to a homeowner that the process will be less stressful and the right remortgage could be found and with it substantial savings.