House mortgage lending deals to the tune of £17bn are set to mature during the month of September forcing many to make an informed decision about what to do next with the property mortgage. Many households will transition to their lender SVR, but many will choose to remortgage. Housing experts across the country are urging those who are able to remortgage and save potentially massive amounts of money in the coming months.

An additional £18bn is set to mature in the month of October of this year. The next two months will see large numbers of households facing a decision which can lead to big savings and possibly access to home equity.

Greater than the savings off the cost of the monthly mortgage payment which could occur for many households is the cost of not remortgaging. Current research data puts the amount which house owners could pay instead of remortgaging at more than £400 over the period of the next twelve months.

A house remortgage is now at the top of the list of potentially beneficial mortgage lending tools. Since the fall in the country’s base rate last year to 0.25%, remortgage has been the hottest item around. Lenders have been able to offer deals with interest rates and administration fees which are only helping house owners save money.

Housing experts are finding this current period of time some of the most favourable months to remortgage before the conditions change. Interest rates can increase within weeks which could negatively affect the ability of a remortgage to save money on the cost of a monthly mortgage.