Due to the low continued low level of interest rates, the headlines as of late have been filled with numerous amounts of pounds which can be saved by obtaining a remortgage. That figure has seen many ceilings and floors, but many house owners know what the truth is. Remortgage can be a true cost saver on monthly outgoings and can be quite valuable when considering how much is possible with access to home equity. Now, however, many experts are discussing the amount of money it could cost a home owner if they decide not to remortgage.

Interest rates remain on a downward spiral for mortgage lending purposes. This week interest rates are low and next week they will somehow go even lower. For those remortgaging this has been quite the favourable spot to be in. However, those low interest rates will someday stop falling and a decision will have to be made. Many experts are now urging home owners to remortgage and calculating figures of how much it could cost not to remortgage.

These figures vary, but some housing experts have put the total at more than £3,000. For house owners who are currently sitting on their lenders’ SVR, the time is now to consider a remortgage. Rates have fallen greatly in the last two years and the time could be never more perfect to obtain a remortgage and move to a fixed rate mortgage lending product.

A remortgage at this time might be the wisest decision based on history of interest rates and the current political climate. House owners are looking to gain some stability and in this uncertain market, a remortgage could fit quite nicely.