Cheap remortgaging deals 'available at present'

Now is a good time for homeowners to remortgage their property, it has been claimed.

According to Stuart Law, chief executive of Assetz, there are some good deals available in the market at present and consumers should not turn them down.

This is particularly the case where homes are concerned, as opposed to buy-to-let property, he claimed.

Mr Law continued: "It is a good time if you need the money or if you see an opportunity to reduce your monthly costs because there are plenty of people who can save money per month.

"Generally, we are going to see an increase in remortgaging going forward."

He was commenting after analysis by HSBC revealed that in the current environment, the amount of equity held in your home is more important than ever, especially for homeowners wishing to remortgage.

The bank reported that between September 2007 and April 2009, the value of property fell month-on-month, eroding deposits and equity held by Britons in their homes.

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2010-05-28 13:46:56 © Moneyextra.com