Prime Remortgage Days Could be Now Compared with Later
Some UK housing market experts have been making comments regarding the possibility of a cooldown within the market coming this year. According to some recent data, this is already the case in some parts of the UK. House sales are down a bit compared with the last quarter of 2016, and mortgage lending overall could always be a bit stronger. This possible cooling off period is causing many close to housing to predict big numbers in the next few months for those house owners sitting tight and choosing to remortgage.
Remortgage is the new star of the show. The political events of last year created big waves across the landscape and moved many to feel uncertain about what lie ahead. House owners have been especially aware of what is going on and have chosen to stay put more often than moving home.
This has led large numbers of house owners to seek out the possibilities which come with a remortgage. Interest rates remain at the bottom of the bucket and that is good news for anyone researching a remortgage. These ultra-low interest rates are leading to huge savings off the cost of the monthly mortgage.
Lenders are still greeting house owners with open arms. They remain quite competitive with each other and are offering low interest rate remortgage packages suited for any financial situation.
House owners looking to sit tight and await the next hike in interest rates are being urged not to wait long. Whispers of an interest rate increase are getting louder as spring months approach us.