A rise in interest rates is coming according to many close to the UK housing market. It will begin as a hike in the standard base rate which now sits at 0.5%. Some are expecting the base rate to increase 0.25%. Most are expecting a rate rise, but some are now starting to hesitate with such a confident feeling since the inflation rate has fallen a bit to 2.7% from 3.0%. With so much talk, one would believe level of optimism would be sitting at a lower level than in previous times. Just the opposite is now taking place and residents are feeling confident about carrying on.

The housing market has displayed resiliency in recent times and now is no different. Mortgage lending is still going strong after the typical slow start to the year. Remortgage has even been running at a stronger gate, especially with rate hike being discussed at such great length.

Home owners are now privy to conditions within the market which are beneficial to many who are looking to remortgage and save money. The opportunity which is now available might not be so favourable at this time next month. Rates on mortgage lending products remain historically low and thousands have grabbed a new fixed rate mortgage as a way to save money now and gain protection for the future. Actually, lenders are having difficulty keeping up with all the applications.

The possibility of a hike in interest rates has created a bevy of housing specialists to suggest one thing to home owners – consider a remortgage now. This could be the age of opportunity before rates increase and the borrowers’ market ends.