The year is quickly coming to a close and with it, possibly, the opportunity to lower the monthly mortgage payment amount and capitalise on historically low interest rates. Housing experts are now speaking out on a very public level and advising house owners to consider looking to remortgage. What once was seen as a potential method to unlocking valuable cash sitting idle as home equity, the remortgage now sits tall as the leader in mortgage lending by percentage.

Taking the warnings of an impending increase to the Bank of England’s standard base interest rate, homeowners took no chances and rushed to remortgage in August. The volume of remortgages increased by 11% in August to the highest level since January at 41,497 according to LMS research data. The annual data showed an increase of 16% since August 2016 which recorded a then impressive 34,900.

October is the month of seasonal changes and it is also the month of spooky symbols meant to bring more delight than fright for the young and old alike. However, this October some are feeling more of the fright and worry. Homeowners and hopeful home buyers are being injected with more and more warnings of an increase in the Bank of England’s standard base rate. That will mean an end to the historically low interest rates that have become the norm since early 2009.

The wake of Brexit and the UK absent from the EU has created a changing dynamic within the country’s borders and specifically the capital city. In recent months, the London property market has gone from one of high demand and constant increase in value to that of lack of supply and falling property prices. Many who were once seeking residence within the city limits are now looking at the outlying areas and beyond. Purchase of London property has gone from hot to cold. One area within the housing market which lies on the other end of the spectrum is remortgage. It is hotter than ever.

There are solutions to cutting costs from the monthly outgoings in any household budget. Costs can be cut from the typical power usage and other utilities. Costs can be cut on the amount of petrol used in the course of thirty days. Costs can also be cut in the amount of everyday consumption in food, water, and other necessities. But many homeowners overlook one of the most powerful tools to cut costs overall. That tool is the home remortgage.

Many close to the UK housing market are estimating London will not return to its prominence as the fastest growing area of the country until at least 2021. Illustration to this point is now being made due to the latest data which has surfaced in regard to the lack of growth of property prices. For the first time since the peak of the financial crisis, London house price growth fell. Some market specialists feel housing could be in for tough times until the UK leaves the EU in the year 2019.