Homeowners Using Remortgage to Refurbish Houses and Stay in Communities
Homeowners are looking to remortgages for more than to save money on their monthly repayment. For those that have outgrown their home, need an update, or want a complete refurbish to their home a remortgage is an opportunity to stay put. Many homeowners according to a study list their community as a reason for wanting to stay in their home even if their needs for a home have changed.
People make friends, trusted extensions to their family within their community. The community is considered a valuable asset to owning their home. In fact, many home buyers consider the community as a number one reason to buy in a particular area.
There is no need to have to say goodbye to a loved community if the homeowner can make changes to their home to bring it up to match their needs. A remortgage with a cash equity withdraw could be the answer to refurbishing, or expanding a home, or even downgrading a home to become a multi-family dwelling.
A homeowner can take the built equity they have in their home and turn it into cash to be used however they wish. It can go toward the home, to consolidate debt, or to pay for a much needed holiday. The homeowner has complete control on where the money is used when they take out a cash equity remortgage.
With interest rates at historically low levels and attractive remortgage products offered by lenders, it might be the perfect time to be attentive to a home in a way that will allow a family to stay in their community and be happy with their current home.