Activity within the remortgage sector has been percolating now for several months consecutively. Interest rates fell last year creating quite a favourable situation for homeowners looking for the benefits of a remortgage on their property. After several months of happy homeowners and others moving home, the possibility of the massive benefits of a remortgage could be ending, according to some within the housing market. They are urging property owners to remortgage whilst they still can.

Interest rates will likely not stay at this level for an extended period and many housing experts are cautioning homeowners not to wait too long. Month after month of Bank of England Monetary Policy Committee meetings could end in a hike to the base rate sending interest rates back up. The current inflation rate has fallen which has helped keep interest rates at their current level.

Many considering a remortgage are sometimes mistaken about how much a slight change in the interest rates can mean to a mortgage payment. Finding a reliable remortgage calculator is quite telling. Some homeowners have found themselves saving hundreds off the cost of their monthly payment. Just a 1% change in interest rates can mean the difference between saving £500 per year compared with more than £1,000.

Lenders are still competing for clients before the entire selling season is complete. That, combined with the possibility of a rise in interest rates, has the entire sector buzzing. Many housing experts believe now is the perfect time to remortgage and factors could not be any more conducive to finding the right package deal.