The idea of a remortgage for UK homeowners over the past few years has not been at the top of the list for options of how to improve the bottom line of the family financial plan. In fact, considering a remortgage has not even been in the top few ideas when thinking of staying in the current home or moving home. Now, thanks to a super low interest rate, remortgage is being urged by experts and therefore considered by more and more home owners.

A remortgage has given the power of financial stability back to the home owner. It makes saving money on the cost of the monthly mortgage payment easier and faster than ever. More home owners are taking the simple step to apply for a remortgage and then reaping the list of benefits which are available with a remortgage.

Those who consider a remortgage are falling quite short when estimating how much savings are ultimately possible. According to a recent survey, many who apply for a remortgage greatly underestimate the amount of savings after being approved. The initial estimate is around £49 per month in savings. Actually they are quite often able to save almost double that amount. The final figure after being approved for a remortgage is typically around £96 in savings off the cost of the monthly mortgage payment. That is almost £100 per month.

Home owners are turning out for remortgages in big numbers and accessing home equity through the process. They are starting a home renovation, paying off old debt, and taking holidays which they have been planning for a long time.