Remortgaging for Equity Release Funding Shortfalls and Stress Relief for Homeowners

Remortgaging for Equity Release Funding Shortfalls and Stress Relief for Homeowners

Brexit may not be over, but the delay has brought the opportunity for exhaling and getting on with life as normal as possible. Hopeful home buyers are said to be returning to the housing market and that is good news for homeowners concerned with continued equity growth. Those property owners that are not planning on downsizing or upgrading and content to stay put are keen to take advantage of the equity they have built up over the years and release it into cash with a remortgage deal.

With lenders being more innovative to gain the attention of borrowers, including homeowners considering remortgages, more products are coming onto the market including equity release remortgages.

By releasing the equity value built up in the homeowner’s property, the cash can be used for numerous things including helping fill in the shortfalls in one’s family budget. The money can also be used to put aside for emergency use to help relieve stress that might be present due to Brexit.

The cash released through equity release remortgages could also be reinvested into the property to build even more value into the property or to fix it up to make it ready to put on the market at a later date. Some might even consider using the money to create an income producing room or apartment for rent. Then again, perhaps a once in a lifetime holiday is the perfect use for the funds. The spending is totally up to the homeowner.

There are all kinds of opportunities to remortgage even for those that had previously been shut out of remortgaging due to easing in lending by the FCA. Whether for an opportunity to grab a lower interest rate, secure a fixed interest rate, or to release equity into cash, a remortgage could be the solution homeowners are seeking.

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