Mortgage lending figures from the month of June showed little growth. House prices have increased only slightly in the last few months and that has had little effect on the amount of demand which is being exhibited for house sales and therefore mortgage lending. What continues to lead the drive in the mortgage lending sector is remortgage activity. Housing experts believe remortgage activity will remain strong through the remainder of the year.

Overall mortgage lending increased more than 2% year on year in the month of June, as remortgage demand is still quite strong. House owners are finding a bevy of notable lenders more than willing to work with them and even offer quite favourable incentives.

Currently, it is not uncommon for house owners to find remortgage deals with exceptionally low interest rates as well as free administration fees. Lenders are well aware that many house owners are in a period of maturing mortgage lending deals. Many are even making available deals which extend a longer amount of time than normal. Deals of three and five years in length have now been extended to ten years by some lenders.

Remortgage is no longer a second tier method to save money and improve the financial situation of a family budget. It is now considered a beneficial, strong method to reaching a more favourable state with less stress and more hope.

Households are now facing a time of more holidays and a greater chance to improve and renovate their current residence. Remortgage is making this all possible and lenders are eager to work with applicants to make it happen.