There have been many homeowners that have taken advantage of the numerous benefits remortgaging has offered during the pandemic. Those that find lower interest rates than what they had previously could save, according to reports, £200 or more per month. Some have cashed out built up equity and used the money to upgrade their property to better suit their pandemic lifestyle needs. There are many opportunities with remortgaging, but perhaps the most important is that homeowners are reporting the ability to remortgage has brought them stress relief during the difficult financial times brought on by the pandemic and lockdowns.

With low interest rates, sometimes for lenders their lowest interest rate offered in years, and the ability to lock in rates for months or years to come with a fixed rate, it should go without saying, this could be the best time to shop for a remortgage.

Not only are low interest rates readily available, and savings to be had, but lenders are sweetening the pot by bringing out more remortgage products to the lending market.

In just the last few days, many lenders have announced they are cutting rates even further and adjusting the loan to value (LTV) levels higher which makes remortgaging available to more homeowners. Recent 90% LTV deals with low or no fees and interest rates below 3.5% have been introduced. 

The fact that lenders are being creative and competitive for the attention of homeowners could mean that lending is relaxing. This could be an indicator that those that found lenders reluctant to take on their complicated remortgage needs before are more capable of getting a deal now. It could also be helpful to take on the assistance of a remortgage broker. Brokers work with many lenders and will know which lenders could be best to work with according to unique needs. Remortgage brokers often have exclusive deals from lenders not offered to the general public,

While anytime is a good time to shop online and discover what savings are available with a remortgage, currently could be one of the best times. New remortgage products have arrived on the market and fixed rates for longer terms can be found. Savings with lower interest rates are offering substantial savings, and if peace of mind can be found during this difficult time, then a remortgage could definitely be a priority for homeowners.