Remortgage has proven itself over the past few years as a primary option to turn to as home owners search for cost savings. Interest rates have remained quite low and lender competition has been at extremely high levels. This has not only created what is now considered a market leaning favourably towards borrowers, but it has also made it possible for home renovations to take place across the country. Recent data released also suggests an interesting fact regarding remortgage. Many parents are using it as a tool to gift money to their children.

Recent data confirms remortgage is making it possible for parents to do something which helps assist children with their own financial success. Parents with property which has increased in value are using remortgage to gift money to their children. This is making it possible for kids to purchase necessary life tools such as automobiles and computers, and everyday essentials like groceries and petrol.

In the Moneysupermarket poll, one in six parents who remortgage are gifting their kids an average of £9,050 per child. Almost 10% of those participating in the survey are gifting their kids with an average of £20,000.

Results of the survey indicate more than a third is putting the money towards a down deposit on a new property of their own.

Remortgage is a powerful mortgage lending tool which is now at the front of the pack in regard to cost saving methods and overall financial stress reduction. The borrower market of today is expected to continue well through the end of the year according to many housing experts.