Remortgage Could Be the Holiday Gift You Need Now
Homeowners are expected to seek out remortgages over the coming months due to the increase in the standard base rate by the Bank of England’s Monetary Policy Committee (MPC). To escape higher repayments is likely the number one reason most will be looking for a remortgage. However, there are other benefits to remortgaging and one of those is that a homeowner could release equity into cash. The homeowner can then use the cash for whatever they want.
The cash could be used for many purposes such as investing in upgrades for the home, or to consolidate debt, or to build an emergency fund. The homeowner could also use the funds for paying for a dream holiday abroad, for major purchases, or it could be used to prepare for the upcoming holidays at the end of the year and securing a warmer winter.
Perhaps the family has a wish list for the holidays or a hope for the new year. If so, then the time is now to shop for a remortgage.
Lenders still have very attractive deals available for homeowners seeking a remortgage. In fact, some have yet to pass along the MPC increase to borrowers. Of those that have, some are offering incentives that could make a slightly higher interest rate still the best savings choice.
However a homeowner plans to spend the holidays at the end of the year and start off 2018, perhaps the remortgages available now are going to offer the best benefits and opportunities of what could be available months away.