Equity release customers 'should remortgage'

Pensioners taking advantage of equity release schemes should consider remortgaging their property, one expert has claimed.

The equity release market is growing during the current economic downturn and people should consider changing deals to reduce their rates, according to Key Retirement Solutions.

Speaking to mortgageintroducer.com, Dean Mirfin, business development director at Key Retirement Solutions, said: "The current economic climate means it is more important than ever to ensure you are making the most out of your money."

"The process of remortgaging is simple, and it is a good opportunity for consumers to review their circumstances," he added.

Meanwhile, a decision by the Bank of England''s monetary policy committee to cut interest rates would benefit homeowners, according to the Fair Investment Company.

The financial news provider claims analysts expect a rate cut on Thursday (October 9th), with the majority thinking a quarter-point cut to 4.75 per cent the most likely outcome.

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