UK Home Owners Seeking Remortgage Urged to Act Now
Home owners within the UK borders looking to remortgage are finding quite a favourable climate. Since the historic Brexit vote in June, the UK housing market has gone through stages, each one with a higher level of consumer confidence connected to it. Within just three weeks of the vote, the Bank of England cut the base interest rate from 0.5% to 0.25%. This not only was the defining moment for those seeking a remortgage, but the turning point overall for a boost to consumer confidence.
UK house owners considering a remortgage prior to the Brexit vote can now breathe a sigh of relief. Many experts viewed the period before the vote as favourable for those looking to find an alternative mortgage plan. Now, as distance from the Brexit vote lengthens, the climate is even more favourable.
Interest rates are now at record low levels. This means that home owners who are at the end of their initial mortgage lending term or those who are looking to remortgage prior to that point can now seek out a plan with confidence.
Low interest rates are the prime determining factor in making it possible to save money off the cost of a mortgage payment. Now, more than ever, remortgage deals are on the table and quite attractive for those home owners looking to save money and affect the family budget bottom line in a major way.
Experts close to the UK housing market agree. Now is the time to remortgage, especially since the process is so simple and streamlined.