Fixed Rate Remortgage can Provide some Peace of Mind Amid Uncertainty
Monthly bills arrive in the post every thirty days. The car requires a fresh tank of petrol most weeks out of the year. Groceries must be purchased as the kitchen gets low on staples we eat every day. These are all things we can count on and never expect to change. The standard base rate is a little like a staple, but it’s a figure which we never expect to change. If and when it does, it can create massive swings in costs throughout the housing market.
Experts close to the housing market appear on the same page whilst describing the future of the standard base rate which affects all interest rates. Most believe there will not be a change in the base rate for several months – at least through the rest of the year.
This is important news for those on the fence about remortgage. The time is now to consider it as interest rates remain at historic lows and lenders are putting things on the table like numerous incentives coupled with cash back.
A house owner could remortgage now into a fixed rate package loan and potentially see a much higher base rate this time next year. At this point, few housing specialists can predict what will happen next in the housing market and interest rates.
A great number of house and property owners have already made the decision to remortgage and are seeing great benefits. As the day of Brexit nears, owning a mortgage loan with a fixed, low interest rate allows the mind to rest a bit and know the monthly mortgage payment will not be changing for some time.