The release of recent data regarding remortgage activity points in one direction for the first quarter of the year 2017. Home owners are going to be finding similar opportunities to the end of last year from lenders for at least a few more months according to experts within the UK housing market. Those opportunities will surely lead to saving money. Interest rates remain low and so far, there is little indication they will rise within the month of January.

A recent survey asked home owners their plans for the New Year and the results have pointed strongly towards remortgage. Approximately 30% of eligible homeowners are expected to apply for a remortgage during the year and more than 20% are expected to apply within the month of January.

Estimates for how much savings is possible vary, but home owners are quite aware of the possible savings based on the level of interest rates now being offered. The results of the survey indicated homeowners believe they will save an average of £49 per month. According to experts, this estimate is quite conservative and will likely be much more after final approval.

Although remortgage has become more popular in recent years, many homeowners are still unaware of the possibilities which lie with the mortgage lending tool. It has the ability to not only save many pounds per month, but also release valuable home equity which is stored in the value of a home. This cash can be used for home renovations, paying off old debt, or taking a much-needed holiday which has been planned for year.