Once a hopeful home buyer gets the keys to their home and is now a bonafide homeowner, it is so nice to put the stress of the process behind you. No longer do you have to shop online for homes available for sale. No longer do you have to get a kink in your neck every time you see a for sale sign in front of a property. No longer do you have to spend your free time lingering in front of displays of listings of homes after homes looking for the dream property you always imagined.

Once you find the right home then you start the process of securing a mortgage. Then you are a homeowner.

Now you get to face the joys and stresses of homeownership.

Why would anyone want to go through stress all over again to get another mortgage deal through remortgaging?

Apparently very few people because there are many homeowners that allow their mortgage deal to end and don’t remortgage. It is easy to do so because their lender will make the transaction to their standard variable rate (SVR) easy. The mortgage deal will seamlessly be moved to a new rate, so what is wrong with that?

For some homeowners, nothing. However, in some situations the homeowner that does not remortgage is missing out on saving money. Their family budget could be much more padded if they didn’t spend more money than needed on their property loan.

Simply by getting a lower interest rate one could save money. In some cases, the homeowner could not only get a lower interest rate than their previous mortgage deal, but also lower than their lender’s SVR.

Not all stress is equal but certainly some would consider going through the remortgage process as stressful, but perhaps it should be weighed against the stress of looking at the amount of money lost in not getting a low fixed rate remortgage when there are warnings of possible interest rate increases. Of course, there is the stress when the SVR turns out to be more than the original mortgage interest rate, and maybe more than double than what is available in a remortgage.

In reality, the remortgage process doesn’t have to be overly stressful. There is a lot to be gained rather than lost by investing time into shopping around for a remortgage. Taking it one step at a time and keeping the possible goal in mind could make taking action much easier than letting a lender move your mortgage to a SVR.