The Bank of England kept its promise last week and increased the base interest rate. Reaction was not surprise for most, but it did leave some feeling like they had missed a grand opportunity. That group who feels they missed out is homeowners who have not obtained a remortgage yet, especially with interest rates still at such a low level.

Interest rates are now officially on the rise due to the actions of the Central Bank. Increasing the base interest rate means banks will now pay more money for the money in which to loan the general public. Banks are businesses just like every shoppe except they sell money, and provide other services.

A remortgage is still a potential winning move for many homeowners. An interest rate hike of 0.25% should not completely dampen the possibility of lowering a monthly mortgage payment amount. It should also not kill any intentions to start a home renovation, pay off old debt, or take a dream holiday. All this is possible with access to cash through a home remortgage.

According to housing experts many viable deals are still on the table of which many are able to save money each and every month by lowering the cost of a mortgage.

Homeowners need not throw in the towel completely. First, put together all relevant information concerning the current mortgage. Next, take a look at possible deals which are still being offered by many well-known lenders. The possibilities are endless with a remortgage and it is never too late in the opinion of many well respected housing authorities.