Total number of mortgage approvals fell in the month of December last year prompting many housing experts to feel concern for what is to come. Many see the market stagnant this year following a year in 2017 which included new tax laws, a rise in inflation, and overall uncertainty about the future with Brexit. Although house owners feel anxious about what is possibly coming, there is still a possible exit door for many financial stresses. That door is potentially as close as a remortgage.

Remortgage has emerged as a successful lending tool and one which needs to be considered more often. House owners across the country have benefitted from its ability to lessen financial woes and create a feeling of new hope.

In the last few months, lenders and banks have experienced an increase in swap rates which has pushed them to pull many fine offers from the table. These rates are the rates which they pay each other upon lending money to one another. This has limited their ability in some ways and in other ways has forced them to become more creative. Now, lender deals may include lower administration fees or lower closing costs.

House owners should not feel lost or hopeless during the market’s time of uncertainty. There are still favourable deals on the table to take advantage of. Lender competition is still at a feverish pace. The New Year has just begun and fresh, new opportunities are popping up around each and every corner.

Remortgage has the ability to provide financial comfort in turbulent waters. House owners must remain committed to finding the exit door. Lenders are always making an effort to provide the keys.