Homeowners have been consistently seeking to remortgage. It is no wonder because there are savings to be found. One of the most popular remortgage products among homeowners is a fixed rate remortgage. Such a rate will assure homeowners of the interest rate they will pay over the course of the term of the deal. In the uncertainty of Brexit, being safeguarded against rising rates can offer peace of mind to a homeowner.

Homeowners are happy to find that they have available a wide variety of choices from lenders. Some lenders have backed out of the mortgage and remortgage lending market. Such a move, especially by some large lenders, could have diluted the competitiveness in the market that was pushing them to offer attractive deals to gain the attention of borrowers. It doesn’t seem to have impacted the market as of yet, for lenders are still seeking new customers and putting out deals that are being sought after by homeowners.

Those homeowners that have had their mortgage deal end or are close to having it end are encouraged to seek a remortgage sooner rather than later. Without a remortgage, a homeowner is moved to their lender’s standard variable rate (SVR). Data has revealed that homeowners that mortgaged or remortgaged two or more years ago with a fixed interest rate could find their lender’s SVR to be double or more the level they were used to paying.

Rather than pay more than necessary a homeowner might want to consider seeking a remortgage to save money and saving money makes practically anyone happier.