Borrowers seeking remortgage advice are recommended to switch soon
Current remortgage advice is for home-owners to switch to a cheap remortgage deal before it is too late and the cheapest remortgage products disappear.
Remortgages are predicted to become a lifeline to financial health in the years ahead. Equity cash release is likely to become a cheap borrowing tool for those needing to fund major expenses. The group who will be hardest hit by the recession and its recovery effort is likely to low to middle income households. Even in recovery these households are expected to see their living standards decline behind those of the more affluent.
The think-tank Resolution Foundation shows that this income group already showed signs of weakening prior to the credit crisis. More borrowers in this group are seeking remortgage advice to help them make the right decision to secure their future financial stability.
The Resolution Foundation report titled “Growth Without Gain?” and was authored by Matthew Whittaker who states, "Members of the squeezed middle did not share in the spoils of economic growth in the pre-recession years, with wages at the median and below stagnating. Gains instead flowed primarily to higher income households and, more particularly, to those at the very top of the distribution."
For those home-owners with adequate equity levels the current remortgage advice is to switch to a cheap remortgage deal soon, as this could lead those in the low to middle income bracket to a more secure financial future.
