Interest rates are kind of tricky now and are sort of at a good point somewhere in the middle where you don’t know if they will go up or down. That make the option of remortgages worth while only to a limited number of people who took out their mortgage when interest rates were higher or for people who want to switch from a changing rate to a fixed rate (although this isn’t the best time to do so).
But there are other reasons why people recycle their mortgages and it doesn’t always have to do with interest rates. Some choose to recycle their mortgages (or remortgage) simply to free up more cash. This may be in cases where someone is currently not earning his usual income and is finding difficulty making the monthly payments. While normally your mortgage payment protection would kick in at this point, some either don’t have it or choose not to use it and prefer the option of remortgaging for a larger sum.
