Remortgage your home – an answer to moving house?
Remortgage your home and switch to a better interest rate, is the suggested alternative to selling and moving house. The ongoing struggle in the UK’s economic recovery process and concerns about the stability of the Eurozone’s economy, are factors which are keeping many home owners from moving.
Rightmove have released their prediction, warning of an “uncertain and fragmented” housing market for 2012, this uncertainty is likely to keep homeowners from searching out an upgraded property. Remortgage your home and switch to cheaper interest rate and you could allieviate the fear of investing in a new property which may decline in value.
Rightmove director, Miles Shipside, said "It's like a high-speed train running along a damaged track, but could the bumps be so severe as to cause another Lehman Brothers-style derailment of the property market?
"Some potential home-movers are watching in anticipation for the answer before making a decision on a large financial commitment. In the event of a disorderly collapse of the eurozone then our predictions for 2012 will also be derailed."
Due to predictions of a continued uncertain housing market, the demand for remortgaging to help consolidate debt or for releasing cash will continue to be important in 2012. In 2011, many homeowners struggled with household budgets and turned to debt consolidation remortgages, the same is expected in 2012.
More homeowners are chosing to stay put, and are being advised remortgage your home and use the remortgage to renovate the present home as an altenative to moving to a new property.
