The current economy is being impacted by an enemy that was previously unknown. There have been pandemics in our history, but not in over 100 years and never has it been Covid-19. The virus is still being studied and is yet to be fully understood. No one is quite sure how long the impact will last or the fallout after it is under control or eradicated. The opportunity to find peace of mind for one’s financial health is not to be missed with so much of an unknown at play.

Homeowners are choosing to seek savings for their budget by remortgaging. There are low interest rate remortgages being offered which are the reflection of the Bank of England’s Monetary Policy Committee (MPC) cutting the standard base rate to the lowest ever in history at 0.1%. With a fixed rate remortgage, coupled with the low rates available, the homeowner could secure savings for years to come.

For some homeowners the savings from a lower interest rate remortgage could be substantial. Experts have noted that many homeowners could possibly save thousands. 

In search for that substantial savings, homeowners are likely to be focused on seeking out the lowest interest rate available. However, it should be pointed out that the lowest interest rate might be connected to expensive fees. While an interest rate that is slightly higher could be associated with lower costing fees.

Therefore, when in search of the remortgage that could offer the peace of mind one is seeking with the greatest savings, it will be important to consider the overall savings which includes not only the low interest rate, but also the fees that are included. 

There are many new remortgage products on the market, and lenders are competitive for borrower’s attention. Shopping online could be a quick and easy way to discover the best offers available that will reveal the best remortgage for the homeowner’s needs.