Lenders are continuing to offer enticing cheap remortgage and mortgage deals to help borrowers take the option of switching to a new deal or purchasing a new home.  Mortgage lending according to reports is showing strong gains which falls in line with trends being seen in the housing market.  First time buyers are returning at strong levels, asking prices are rising with increased demand and property values are increasing.

Spring usually ushers in a new wave of property shoppers to the market and with the continued low interest rates offered by lenders for new purchase homes for both first time buyers and home movers there is an expected continued rise in the number of approvals in the coming months.

Homeowners should be finding the increase in their equity levels a bonus to considering a remortgage deal.  House prices have been rising in the majority of areas around the UK and Wales and this should assist homeowners that have been hoping to secure cash back with a remortgage.  It could help a homeowner qualify for a lower interest rate as well.

Remortgaging homeowners should beware of securing a new deal based solely on the interest rate offering.  Low interest rates are sometimes blinding and can make a homeowner act too quickly.  Instead, homeowners should take into consideration the total cost of switching and secure the remortgage deal that offers the greatest financial advantage which sometimes isn’t the one with the lowest interest rate.  Ask clear questions of the remortgage loan specialist or remortgage broker to ensure getting the best deal possible.