According to some brokers close to the UK housing market, mortgage deals are now featuring interest rates which are creeping upwards. Fixed rate deals are now starting to have larger interest rates attached to them which has begun just in the last few weeks. Borrowing rates between banks is increasing, therefore having an effect on the cost of mortgage lending. Some housing market experts are now suggesting those home owners who are on the fence regarding a remortgage consider acting sooner compared with later.

This is the latest, most recent news regarding home remortgage products being supplied by many lenders across the UK.

A remortgage for many households has been a springboard to months and months of lower payments regarding the cost of the monthly mortgage payment. Many home owners who have remortgaged before this point are finding savings of much more than the average amount of savings, which is £49. This equates to almost £600 per year which can be used for other valuable uses.

Many take the savings and start a home renovation which has been in the works for several months. Or they use the savings to pay off old debt which has been a burden for years. Some even take a holiday which has been planned in the past and never acted upon.

Lenders are still offering deals with low interest rates and are in heated competition with each other to discover that next client.

Rates could be going up sooner rather than later, according to many close to the UK housing market. This could be prime time to look into a mortgage lending tool which could possibly save hundreds off the cost of the monthly mortgage cost. This could be the best time to remortgage.