Remortgages Helped Where Private Sector Jobs on Rise
Remortgages have been out of reach for many homeowners that could benefit from them. Due to a lack of equity the best remortgage deals have been denied. Those in negative equity are completely cut off from the security of a locked in low interest rate. These same homeowners are looking for an optimistic outlook on the coming year and the opportunity for property values to rise.
In areas where there is likely to be an influx of jobs from the private sector there will be more properties being considered by buyers thus an increase in property values. In a recent study by Centre for Cities there are certain cities that are due to revive the economy with growth. Edinburgh, Cambridge and London are due to develop more private sector job growth over those lost in the public sector.
Alexandra Jones, chief executive of Centre for Cities, reported "The year ahead is going to be tough for all UK cities but Cities Outlook 2012 shows that some cities are well-placed to kickstart economic growth. However, some cities have been hit particularly hard by recession and the gap between cities is widening.
"This makes it vital that Government policy is tailored to meet the needs of each city rather than one-size-fits-all. What is right for Brighton and Reading will not be right for Dundee and Middlesbrough.
"During 2012 cities should take the lead in shaping their local economies and the Government should give them the financial and political powers they need to make the right decisions for growth.
"Where cities face greater social and economic challenges, the Government should offer support to help places adapt and respond to a rapidly changing global economy."
Homeowners that have found it difficult obtaining a remortgage with their current lender might find a remortgage broker more helpful. Their expertise in the industry and knowledge of which lenders are more flexible for complicated remortgages can mean the difference between getting a remortgage and not. They can also offer valuable advice now to those hoping to remortgage later on in the year.