Homeowners have an opportunity to save hundreds, if not thousands of pounds, should they be able to grab a lower interest rate remortgage deal. The Bank of England’s standard base interest rate was cut to the lowest level in all of the Bank’s 325 year history to 0.1%. With the ability to secure a low interest remortgage, a homeowner could inject savings into their household budget that would be both helpful now, but also in the months and years ahead.

Homeowners are being encouraged to seek out information about possible remortgaging opportunities. The Bank of England’s Monetary Policy Committee (MPC) last month cut the standard base interest rate to the lowest historical level ever. In over 300 years, the interest rate has never reached the low 0.1% level it is at now. That means borrowing is cheaper than it was last year, and it is even cheaper than it was in the midst of the economic crisis.

Homeowners have an opportunity in remortgaging. The benefits could be many and a few of them are saving money, perhaps thousands, as well as securing a low interest fixed rate that could keep their property loan connected to a low interest rate for years, and for those with built up equity they could get a substantial amount of cash put into their hands with an equity cash release remortgage. Because the benefits can be very helpful in today’s coronavirus pandemic impacted economy, homeowners could be tempted to rush into a remortgage and that could prove to be the wrong move and one they might regret.

The world is fighting a silent killer in the first global pandemic in over 100 years. The coronavirus pandemic has gripped the headlines and crippled the economy of nations. Many people have been trying to simply survive financially in a situation that is unprecedented and with the end not yet in sight. The attempt to make smart financial decisions could be the action that would make all the difference in how one will emerge from this health issue and how quickly they will recover physically, emotionally, and financially.

Sure you need a remortgage and you need it now. There are savings to be discovered and every day could be costing you way more than necessary without a lower interest rate. There is no time to play around, this is serious. You need a remortgage yesterday and therefore you need to get a new deal quick. Yet, the best remortgage may not be found quickly and a bit of patience and the right battle plan in hand could be worth every moment you invest into finding the right remortgage for you.

Money is on practically everyone’s mind. The domestic and global economies are uneasy, the UK is heading into yet another week of lockdown, jobs are ending and others are in question, and no one knows when the coronavirus pandemic will be gone from our daily lives. Homeowners seeking some peace of mind against financial stress might want to consider a remortgage.