UK house owners are currently fighting higher costs of one kind or another. Inflation is making everyday expenses cost more. A recent increase in interest rates means those owning a SVR mortgage will be seeing a higher mortgage payment soon. And petrol costs will always create a strain on any budget. Remortgage however is offering relief from many of those costs. October figures on remortgage are now in and proved once again there are many favourable deals to take advantage of.

October saw an increase of almost 16% on September. The number of remortgages for the month of October also represented an increase of almost 18% compared with the same time last year, according to figures from UK Finance. A rolling total shows October remortgages are at a pace which is 16% higher for the twelve months.

Remortgage is still leading the way in regard to the highest percentage of mortgage lending approvals each month. There are no longer simply whispers of how a remortgage can make a significant difference in the family budget bottom line. It is a real difference and some homeowners are saving more than they ever expected.

Experts feel the rush to remortgage is carrying strong momentum currently and this rush could last well into next year. Interest rates are still at extremely low levels and deals are being offered with very affordable administration fees.

Although some are still on the fence about remortgage as they witness more Brexit negotiation news which creates uncertainty about the market, many homeowners are making the decision to remortgage. They are not looking back and in the process many are saving many pounds each month off the cost of their mortgage repayment cost.