Remortgage Stands Out as Positive Move for House Owners
For those in limbo about a buying or selling decision within the UK housing market, it is not a pleasant time. It has been difficult for more than 18 months now and is not getting any easier. Brexit is looming. Uncertainty has become a theme which is affecting optimism and forecasting and estimating for the market in the short term as well as the long term. It seems many balls are currently in the air and nobody knows where any will land. The latest predictions for the housing market are not offering much encouragement as well. Although, there is still one thing to believe in and that is the power of a remortgage and its benefits.
The UK housing market is currently in a cooled off period and is in pause mode until after the last days of March. According to the latest Royal Institution of Chartered Surveyors report, many close to the market are expecting lower house price growth and lower house sales for the year 2019. This could turn around following the official day of Brexit, but currently many are expecting a downturn.
What is not forecast to slow down significantly is remortgage. House owners are currently in position to benefit from many lenders who continue to lower interest rates on deals with high LTV. This strategy is creating more and more competition within the lender community and is only positive for the everyday house owner.
Lower interest rates equates to saving money. With uncertainty and questions hanging overhead, a fixed rate remortgage could be the answer to many problems for house owners now and into the future. Housing experts see remortgage as the solution for many challenged to afford the monthly mortgage in addition to all the other life necessities.