Remortgage activity in the capital city has now surpassed many forecasts for the first quarter of the year. Interest rates remain at the lowest point in some time which is giving lenders the ability to offer deals to help save money on the cost of the monthly mortgage payment. According to the latest figures from the Council of Mortgage Lenders, home owners borrowed more than £4 bn in the first quarter which is a 13% increase over the fourth quarter of last year. It is also a 7% increase over the same quarter of 2016.

Remortgage is making a statement since the decrease in interest rates last year. It is demonstrating to many house owners how valuable it can be in the face of stress and burden. A family budget is often the source of problems needing solutions and a remortgage is possibly the answer, according to many housing experts.

Lenders remain competitive and interest rate level is providing the ability for them to do so. Low interest rates are only one positive factor related to remortgage. Many house owners are finding significant savings obtaining a remortgage. They are also seeing how valuable accessing home equity can be.

Home equity is often overlooked and sits idle over time. It is able to be accessed through remortgage. Extra cash is more valuable now than ever before. It can make a real difference. At a time when inflation is rising and wages are stagnant, remortgage can offset the negative aspects of a turbulent economy.

Experts see remortgage as a valuable tool in the pool of mortgage lending tools which are available. The process to obtain a remortgage is now quick and safe and can be done entirely online.