The race is on officially for those house owners considering a remortgage. As the end of the year draws to a close, many are wondering if they still have time to lock into a new deal   remortgage and side step the lender standard variable rate deal. The only way to find out is to put some time into researching a new deal and discover the timeline. Many lenders are still dropping interest rates on popular deals in an effort to attract clients prior to the end of the year.

Days are winding down before the New Year. Festivities are in full swing for the season and many are busy with weekly functions which keep them busier than any other time of the year. Although the distractions are at their peak this time of the year, home owners are still always searching for a way to save money. Lenders are making that possible as we approach the 31^st of December by offering special rates on not only original home loans, but remortgage as well.

Unemployment has now reached a four decade low. Wage growth is now potentially showing signs of growing faster than inflation for the first time in a long time. Although these factors favour the possibility of housing affordability coming into focus for many, house prices are still out of reach for many. House prices did however grow at a slower rate than typically seen at this time of year. According to data from Halifax, prices grew slowly during the month of November at a rate not seen since the year 2012.

The latest data made available for UK house owners is quite telling for those thinking about a remortgage. Many have remortgaged and found a heavy amount of incentives being offered by lenders looking to make their annual sales quotas. Lenders are offering deals which feature low interest rates as well as low cost valuations, free admin fees, and other incentives. The striking factor leading to many house owners remortgaging is the potential savings which can be realised. Some place the savings at more than £3,000 for the year.

The vote to leave the EU is just under two years old and opinions of what will happen in the UK housing market following Brexit on March 29, 2019 are flying everywhere. Over the past twenty months numerous housing market authorities have been unable to forecast what will come next prior to Brexit. So far, the market has been exceedingly resilient to uncertainty and overall concern. Transaction numbers have fallen, house price growth has slowed in recent months, and remortgage has maintained a high activity level, according to housing market data.

In August this year, the Bank of England Monetary Policy Committee voted to increase the standard base rate from 0.5% to 0.75%. This increase of 0.25% was the second increase in the base rate in twelve months. It pushed many house owners to act and remortgage. It also pushed many thinking of moving home to do so as well. These actions took place despite Brexit uncertainty and other factors. Now, this increase in the base rate is being referenced once again as the SVR for many lenders has reached its highest level in nine years.