House Owners Finding Favourable Remortgage Deals in New Year
Almost two weeks into the New Year feels a bit odd for many, but it is simply a reminder for how fast time can pass as we all get busy into the routine of 2019. As we finish putting away all the decorations from the bustling Christmas season, one thing quickly comes into focus – finances. All house owners are now getting a glimpse of how much they truly spent during the last two months of 2018 and for some it is eye-popping. Regardless of how much was spent or not spent during November and December, there is still a way to potentially save money going forward in the year 2019 for many house owners. That way to savings lies in a fixed rate remortgage.
House owners obtaining remortgage surged to strong levels during the last quarter of the year. This rush to remortgage took place and continues now for several reasons, but the main reason in the eyes of housing experts is the ability to find such a favourable deal at this time of year.
Interest rates are low and incentive to obtain remortgage for that reason is now at a decade-long high level. The average remortgage interest rate compared with the average lender SVR is quite significant. This gap is wide has pushed many to seek remortgage.
Many expect remortgage to continue on this pace for several months if not the majority of this year. Brexit uncertainty is present, but many house owners are seeing beyond that and locking in to a fixed rate remortgage now. Housing experts feel this could be the best time to remortgage.