The New Year is here and with it comes opportunity for house owners to potentially save money. Many are looking to the official Brexit date to see how the economy responds, especially the housing market. Housing experts are urging those who have not remortgaged to do so or at least consider doing so. Lenders are locked in a competitive mode currently and the market is leaning heavily in the direction of borrowers. There are actions associated with remortgage which many experts are suggesting to try in an attempt to save money now and make 2019 better than ever.

First, timing is important with remortgage. Housing experts suggest consider looking into remortgage at least 6 months prior to your initial mortgage deal ending. This time period has been considered the norm by many close to housing for years, but often house owners do not have that luxury. It is better to work with that time frame, but if it is not possible, then experts suggest working with whatever you have. It is better to potentially start saving money on the monthly mortgage payment compared with not.

Second, make a move with the house mortgage prior to the time of another increase to the standard base rate. This is quite important. Brexit has created an air of uncertainty and many are acting now as opposed to waiting to see what will happen with interest rates when Brexit officially takes place.

Third, pay close attention to hidden fees associated with something like remortgage. Often, lenders charge fees which are not out in the open for us to discover. This leads to stress and misunderstanding. It even leads to potentially paying many more pounds per year than necessary for a new monthly mortgage deal. Make clear of the terms set up with the lender prior to entering any new agreement like remortgage.