Data reports released in relation to remortgaging are supporting the same trend and that is that homeowners are seeking new deals in an effort to secure a low interest rate before rates increase. Another reason high on the list of homeowners is the ability to obtain an equity cash release deal with low interest rates related to the deal. Much of the rush to remortgage is due to the increased media coverage that it is a matter of time before lenders begin to increase their offers.

The Bank of England is drawing closer to changing the base rate and it is thought that will occur for the first time since March 2009 sometime in the beginning of 2016.

While that may seem a distance into the future, the fact that remortgages take longer to secure an approval should be in the thoughts of homeowners. Also, there will be holidays worked into the schedules of lenders over the next few months, which means there are fewer business days to complete a remortgage deal. Other factors that could cause a tightening of the time schedule to secure a low interest rate are sicknesses and inclement weather brought on by the colder winter weather on the way.

Homeowners have perhaps the last quarter of the year to discover the right remortgage for them that includes a long term as well as a fixed low interest rate. Lenders will likely pull their cheapest deals before the Bank increases the base rate. With so much at play as to when the best window to a cheap remortgage is closed, shopping around for a good remortgage deal should take place sooner rather than later.