There are a large number of homeowners that will have their current mortgage deals end in the month of October. They are going to have many opportunities available to them in the remortgage lending market that were not present only months ago. Remortgage lending has become more competitive and lenders have also become more creative. There are many more remortgage products, many with low interest rates and some lenders are offering historically low rates. Fixed rate remortgages are being offered with terms in 10, 20, and 30 years.

In an attempt to better quantify the remortgage market, LMS has launched an index to report and analyze remortgaging data to those in the industry, experts interested in such data, and for the lay person since the report is made public. In a partnership with the Centre of Economics and Business Research (CEBR), the report will reveal the overall health of the remortgage market while tracking four strong indicators which are: the volume of remortgage approvals, the remortgage borrowing cost, homeowner equity value, and consumer sentiment.

According to a recent report published by the data website Moneyfacts, the highest credit card debt interest rate ever recorded since data collecting back to 2006 has hit. The average rate (APR) is now at 24.7% and that might not be the ceiling rate. Unfortunately, there could be a very good chance that such an increase in credit card debt interest rates might go unnoticed by consumers, especially since savings banking and lending interest rates are very low. Consolidating debt and paying down the highest interest rates being charged on debt could be a financial health saver and a remortgage might be able to help.

First time house buyers are finding the current climate in the housing market and lending market to be quite attractive. There are many opportunities for those shopping to buy a home, but perhaps first time buyers are finding the most.

The recently released UK House Price Index from the Land Registry revealed that the UK house prices grew by 0.7% in the year to July. This is down from the reported 1.4% growth for June. It is the lowest annual growth rate reported for the UK housing market since September 2012 which at that time recorded an increase of only 0.4%.

For borrowers the news that interest rates will likely continue to be lower for a bit longer could help them further plan for the future. The uncertainty of Brexit is being blamed for the need to keep interest rates low for the unforeseeable future according to the Bank of England. There was also news that a recession is not likely for 2019, but the UK economy and the global economy are still in question as for what is in store for 2020.