Homeowners are due to see more equity growth this year with early forecasts calling for a 3% to 5% increase overall. However, the housing market has shown more growth in the first few months of the year than expected, and therefore equity levels for property owners could turn out to be higher than previously thought. This offers those considering a remortgage further incentive to look into a new deal for cash release or an opportunity to secure a long term fixed rate.

All areas across the UK have shown housing prices increasing except for London. However, London is still an area with expensive property asking prices pushing many into being commuters. This is leading to areas within commuting distance to the capital being in high demand from buyers. According to experts those areas will see the largest increase in housing prices, and of course that will trickle down into pushing up equity levels for homeowners in those areas.

Homeowners that are indeed considering a remortgage are due to find the lowest interest rates ever offered by some lenders. Fixed rates are at record lows as well. There are many opportunities, but borrowers should be aware that with new regulations there has been a tightening of lending, there are now longer processing times for remortgages, and more information concerning a homeowner’s spending and saving habits will need to be shared.

The obstacles of obtaining a low interest rate remortgage should not deter any homeowners from pursuing one. In the event there are complications to be expected or time is of the essence, then it could be beneficial to work with a broker. They are well versed in which lenders would best fit a particular homeowner’s situation for a new deal, and they are privy to special offers that are not available to borrowers dealing directly with lenders.

This year is turning out to be very positive for both sellers, buyers, and those looking to remortgage, as there is strong demand and low supply of homes making the market aggressive, there are motivated buyers in the market due to low interest rates, and homeowners are benefitting from low interest rate remortgages and growing equity levels.