The value of pounds following the Brexit vote has never been at a more precious level. Savers are already looking for an alternative to traditional savings accounts due to the headlines which are currently flooding media sources. There is talk of cutting the interest rate further from its already low level of 0.5%. This is leaving few choices where to store money for now. Many house owners are making the choice to take valuable pounds accessed through a remortgage and invest them back into themselves.

Two years prior to the economic collapse in 2006, there were savings accounts featuring the ability to earn between 4% and 6%, respectively. Those days are simply good memories now and savers are looking for any options to earn cash from years of hard work.

A remortgage makes it possible to access home equity which is stored through years of making home mortgage payments. As home owners obtain a lower interest rate by applying for a remortgage, they are also making it possible to alleviate some of the old debt they have accrued through the years and pay off existing bills. They are choosing to invest the money back into themselves and improving their overall financial state.

The impact of the Brexit vote has left many to question their next step with savings. There is a possibility they could soon be facing 0% interest rate in which savings accounts will offer no benefit, only a roof over the top of their piggy banks.

A remortgage could bring the utilisation of pounds stored as home equity and make it possible to pay off old debt, complete a home renovation, or take an extended holiday. Many lenders are heavily competing for customers and offering exceptional deals to those who qualify. This has led to many home owners finding themselves in the enviable position of having extra pounds and the task of finding a good use for them.