Experts in the UK housing market have pulled back on the bullish outlook they shared a few months ago. Recent data confirmed the economy was not steam rolling along as many had estimated judging by the figures which posted for the month of November of last year. Economic prospects now carry a gloomier tag with them as the month’s data came in below many economists’ expectations. This data heavily influenced the Monetary Policy Committee as they voted once again to hold the base rate at 0.5% during the first meeting of the year, according to the minutes.

Last week George Osborne indicated there would be a need soon to raise interest rates, but the base rate would likely be hiked later compared with sooner. This was refreshing news for many house owners who are currently sitting on the fence and trying to decide whether to remortgage their current property or move home entirely.

In the estimation of many close to the UK housing market, now is still quite the right time to look into a remortgage. Lending rates are still at rock bottom levels and many attractive deals are still available for house owners to take advantage of. High profile lenders are in quite the competitive mode at the beginning of the year wanting to get off on the right foot. House owners have many options open to them currently and several could be worth hundreds of pounds per month in savings off their current mortgage payment.

A remortgage can now be obtained in quite a short amount of time after research begins. There are online sites available which enable applicants to compare deals and find the perfect match for their needs.