UK house owners are making the decision to renovate with remortgage instead of moving home. In the latest round of released economic data from Yorkshire Building Society, house owners chose to increase their remortgage borrowing last year compared with 2017. House owners looking to renovate made the decision to secure funds from remortgage and made improvements to their property. Remortgage made a strong showing last year, but started in the year 2017 as the first of two increases to the standard base rate began in the month of November.

Home renovations are now in the forefront of many house owners compared with the task of moving home. Remortgage provides the ability to secure funds perfect for renovations and increasing the value of currently owned property. Moving home can be quite a trying time for those looking for a change, but remortgage offers the opportunity to stay.

Uncertainty surrounding Brexit could be the reason many have decided to stay and make improvements instead of moving home. The possibility could not be even a consideration without the tool of remortgage.

Low interest rates, a massive amount of incentives, and cash back are still all potential benefits of remortgage. A number of lenders are making the dream of renovating a home and stay possible in this uncertain economic time.

The application process of remortgage has been streamlined and is now easier than ever. Remortgage is not a lending tool which sits aside, idle. Many house owners have made the decision to take advantage of it and are creating a more solid financial situation for now and the future.