Homeowners could be sitting on an opportunity to save thousands and put more money back into their household budget. According to experts there are homeowners that could benefit greatly by choosing to remortgage and for many the savings available could be substantial. There are plenty of low interest rate deals being offered by lenders due to the Bank of England’s Monetary Policy Committee (MPC) cutting the standard base interest rate to the lowest level in history. In over 300 years the rate has never reached the low of 0.1% that it is now.

Luckily for homeowners, the digital age has made shopping for a remortgage easy to do online. By simply surfing through websites of remortgage brokers and lenders, a homeowner can review the interest rate offers available. For more detailed information, many websites offer the ability for the homeowner to obtain quick quotes. After answering a few questions, the homeowner will have possible quotes offered to them to compare and review and then narrow down to the best deal for them.

Experts encourage homeowners to throw loyalty to their current mortgage lender aside. Instead, homeowners should review offers outside of their lender to make sure they are taking advantage of the current opportunities on the market.

Online shopping for a remortgage can be done at any time of day and from the convenience of one’s home. The quick online quotes should be non-obligatory, so there is nothing to lose in shopping to discover just how much of a savings is waiting. Rather than pay more than necessary, taking advantage of the current low interest rates being offered could offer peace of mind for the homeowner looking to build a financial security net during the current pandemic.