The opportunity for home owners to find an attractive remortgage deal is still quite present according to many close to the housing market. Many lenders increased rates slightly just prior to the standard base rate going through the process of being hiked to the current level of 0.75%. This is a level not seen since the financial crisis in 2009. However, many experts consider interest rates which are being offered by lenders as quite competitive and offer home owners the opportunity to save money on the cost of the monthly mortgage payment.

The Bank of England has hinted in recent weeks that the latest increase in the standard base rate could randomly become a normal occurrence to help curb the rate of inflation. The rate increase also assists in the control of borrowing money and helps in controlling the growth of economy.

The latest increase in the standard base rate was predicted by many close to the housing market. Activity within the market did not increase in massive amounts however, and much of the data within several sectors remained subdued leading up to the August meeting.

Borrowers opted for new, fixed rate deals in the month of June as many two and three year mortgage loan products matured. Borrowers found alternatives to those deals and many in the form of remortgage. It dominated the mortgage borrowing landscape, by percentage.

Housing specialists are quite keen on the possibility of the everyday home owner still finding an attractive deal now in the days following a hike in the base rate.