Shop around and compare remortgage deals for the best offers
Home-owners who shop around to compare remortgage rates are being rewarded with cheap remortgage deals. Despite the fact many lenders have become more cautious due to the problems in the eurozone and the warnings of a second recession in the UK, borrowers are still managing to find lenders who are prepared to offer cheap remortgage rates.
According to the Halifax, housing affordability is at its best level for the last 14 years and as buyers come back to the market, home-owners will see their property value increase. Without buyers, property values have fallen which has meant some home-owners have slipped into negative equity. Home-owners who have looked around to compare remortgage rates are looking forward to seeing their equity grow as property values start to rise. In conjunction with a fall in house prices, mortgage rate cuts in the last few years have resulted in an improvement in housing affordability but, only for those able to raise the necessary deposit to enter the market.
Deposits still remain the main obstacle for most borrowers wishing to buy a new property. For that reason remortgages have been a source of cash for home-owners who have decided to help out a first-time buyer family member. Remortgage deals can be expensive but those who look around to compare remortgage deals, will be able to find lenders with cheap products on offer. With more buyers in the market there is the hope that the economy will prosper leading to a healthier housing market.
