Opportunity of Remortgage Still Alive for UK Homeowners
The opportunity for a remortgage is still quite alive for UK homeowners. Although there is more talk regarding the possibility of a hike to interest rates, homeowners are still quite the favourable group when considering such an option. Lenders remain competitive to pull in clients before rates increase; therefore they are still proactive when offering attractive deals.
Andy Knee of LMS commented on the short term forecast of remortgage activity, saying: “It’s rewarding to see consumer awareness of the potential savings on offer is now so high. Savvy homeowners are already looking to remortgage again in the not-too-distant future. We anticipate a steady stream of remortgage activity throughout the first quarter of 2017. The only clouds on this otherwise blissfully calm sunny horizon loom in the form of Article 50. When Theresa May triggers it, the market can expect some choppy waters and a little less plain sailing.”
The remortgage has become quite a popular option for those seeking some relief from high house payments. During the past few months it has become more and more popular. And the evidence is clear as to why.
Home owners have realised the possible savings from a remortgage and it is quite serious. Not only are they finding savings, they are also gaining access to valuable home equity which is lying dormant. There is a real need for funds to pay for old debt, maybe old education loans, and possibly to start the home renovation which has been put on hold for some time.