Days are winding down before the New Year. Festivities are in full swing for the season and many are busy with weekly functions which keep them busier than any other time of the year. Although the distractions are at their peak this time of the year, home owners are still always searching for a way to save money. Lenders are making that possible as we approach the 31^st of December by offering special rates on not only original home loans, but remortgage as well.

Some lenders are pulling out all stops as the year comes to a close. Incentives of all types, lower interest rates on some high LTVs for first time buyers, and cash back on remortgage all lead to lower mortgage costs for borrowers.

Fresh new deals are not limited to particular lenders as they are in heavy competition to meet and exceed their lending numbers for the year. Now could be the perfect time to approach a lender with application for remortgage.

Transitioning to a new deal now means staying clear of the lender standard variable rate which typically carries a much higher interest rate than on a remortgage. Even a small decrease in the interest rate from an initial deal can mean savings of fifty to one hundred pounds each month. The savings for the year can add up quickly and make a true difference in the financial outlook for months and years to come.

The average standard variable rate has now reached a level not seen since the year 2009. This means the possibility for savings is high. Now could be the best time to consider remortgage, according to many housing specialists.