Brexit uncertainty is going to loom over the UK for many more months. The decisions and action taken now will either set a consumer up for stress and financial weariness or give peace of mind and offer security. Experts are suggesting courses of action for what can be done to make the difference now to assure more confidence in the future.
Homeowners are expected to boost up remortgage lending in the coming months. Brexit has led to uncertainty and caution. As the shadow of Brexit looms over the economy, many homeowners are searching for ways to find financial peace of mind and remortgaging could offer that. Lenders are offering low interest rates and attractive remortgages with long term fixed rates. Such a deal could be attention grabbing in itself, but add in the opportunity to release built up equity into cash and it is something that homeowners certainly can’t ignore.
The latest poll by the Royal Institution of Chartered Surveyors (RICS) taken in March gave a less than optimistic outlook on the rest of the year for the housing market. The surveyors reported a chilling of sales throughout 2019 as home buyers continued to exercise caution. Much of the cause for the reluctance to jump into the housing market is being blamed on Brexit.
Technology has reached new heights at every turn and that is also true now with the mortgage lending process. Many lending institutions are now making it possible to obtain remortgage online with a digital signature. What was available to make the entire process quicker is now making it even more accessible in the comfort of our homes. A diverse group of lenders is now involved in the process and that is making the art of remortgage open to even more borrowers.
Homeowners have taken advantage of the opportunities now available from lenders. Remortgaging is offering the ability to escape future interest rate increases while also finding savings. No one wants to pay more in repayments than needed and a remortgage deal offers the ability to find relief. However, there are still many property owners that are waiting on the fence and while holding out they could miss the opportunity that is available.
The current political climate and all the uncertainty which comes with it forces many of us to take a closer look at where we sit financially. Savings accounts are part of the equation, as well as retirement funds, but what could truly make a difference in a short amount of time is a change in the amount we lay out each month in the mortgage payment. Opportunities are still available in great number for those considering ways to save money into the future.