Beware of Choosing a Remortgage Only for the Lowest Interest Rate

Homeowners are being encouraged to shop for a remortgage. The opportunity to save money and build a safety net against rising interest rates is a possibility. During times when inflation is in rapid growth and causing financial issues for family budgets it makes sense to seek any relief possible. However, since the interest rate is the important factor in choosing a remortgage for many homeowners it could be a mistake to choose one simply for the fact it has the lowest interest rate.