Mortgage lending has been quite active for the past several months, starting in middle of last year. Once the idea of an interest rate hike was expected in the month of November 2017, all lending went North and has not slowed down. Original loan mortgages are still keeping lenders quite busy, but according to the latest data, remortgage activity is currently riding a wave which it will not soon be done with, according to housing specialists everywhere.

Some believe it has a lot to do with obtaining a lower interest rate, and some believe it is possibly just timing of two year deals maturing, but all are in agreement that remortgage is on fire with no resistance in sight. In January of this year, remortgage approvals hit a high which is almost a decade old. February slowed a touch, but still posted a robust approval number. Now, with a possible interest rate hike coming in just days, housing specialists are expecting remortgage demand to continue.

Spring is here and with it comes the perfect time to analyse all household data and see where cash can be saved. A remortgage is potentially the most obvious direction to turn. Not only is it possible to obtain a lower interest rate, but access to cash also makes many other things possible.

House owners are using the access to home equity through remortgage as a pathway to paying off old debt, catching up on other nagging bills, and considering a home renovation for the new season. Big opportunity is possible through remortgage and housing experts see this time as one which should be taken advantage of.