Remortgaging is helping homeowners in many ways, and of course the most obvious is to save money. However, there are many other benefits available with a remortgage. Some homeowners are releasing built up equity into cash to upgrade and improve their homes while still saving money every month with a lower interest rate. Others are finding peace of mind by securing a fixed low interest rate that will protect them from rising rates during the continued uncertainty in the economy due to the pandemic and after.

While there are opportunities to remortgaging, many homeowners might be feeling too overwhelmed from lockdowns and the pressures of the pandemic to even consider taking on the process of a remortgage. However, that could be costly. When a mortgage term ends without a remortgage the current lender will move the loan to their standard variable rate or SVR. It has been reported that those that allow their loan to become associated with an SVR interest rate could be paying on a rate double or more than what is available with a remortgage. That could mean a homeowner might be paying out thousands per year that would have been saved.

For many homeowners in search of or in need of a remortgage, a remortgage broker could be most helpful. The broker might just become the super hero they need during the process. 

Brokers work with many lenders as opposed to working directly with one lender. Therefore, the homeowner gets access to a variety of lenders. Because brokers work with many lenders they are familiar with which ones are more willing to work with homeowners that have complicated remortgage needs, such as those that have recently had lifestyle changes or financial changes due to the pandemic.

In addition, brokers might have access to remortgage deals from lenders that are not available to those that deal directly with the lender. Because of the competition to be the chosen lender among many, special offers to broker clients is a possibility.

They are also experts at helping you through the process and will have the knowledge to answer your questions or if not will know how to help. 

With remortgaging offering savings and other opportunities, a broker could be the help needed to take action and take advantage of all a remortgage deal could bring.