Many UK housing market experts are in collective agreement regarding the state of the current housing market as it relates to timing for house owners considering a remortgage. With interest rates remaining at record low levels and lenders fighting for more clients with superior deals, now could be the best time to remortgage in some time. Opinions of many experts lean towards the idea that there is only one way for interest rates to go now and that way is up.

Remortgage is now on top of the mortgage lending chart as a top method to save money for any household trying to improve the family budget. For years, a remortgage has been considered a third and many times fourth option to saving money. Now, conditions have changed, interest rates have changed, and political fate has changed causing many to consider a remortgage first compared to other mortgage lending changes.

Recently, the Bank of England held its normal monthly meeting of the Monetary Policy Committee. Much discussion took place regarding the possibility of increasing interest rates to get inflation under control. The rate has in fact improved from 2.9% to an improved rate of 2.6%.

Still, discussion focused on increasing interest rates to improve the economy took place at length. The potential for an increase in interest rates could be coming sooner compared with later according to many housing experts.

House owners who have not considered a remortgage so far are urged to do so. Transitioning from a current SVR mortgage to a fixed rate deal can take place in a short amount of time. The result could be a savings each month along with access to valuable home equity.