The UK housing market is currently buzzing with many involved in the process of moving home or thinking about the possibility of a timely remortgage before the base rate changes.  Some are even playing a waiting game to see how much time will pass before interest rates officially begin to creep up.  The Bank of England is hinting at an increase in the base rate and has been for several months now.  The time to consider a remortgage is probably sooner rather than later and a fixed deal is favoured.

Recent research data from Mortgage Advice Bureau has discovered the voracious appetite which currently exists for remortgages in the UK.  The number of remortgages within the past month is at a 4-year high and many house owners are researching the attractive benefits of a remortgage which they had not considered in the past.

Brian Murphy, head of lending at MAB, commented on the increase in remortgage activity now occurring within the UK housing market, saying: "Remortgage lending may have been subdued in recent months [additional figures show that the number of remortgage loans advanced fell by 18% over the month], but these figures suggest there is a sizable swell of enthusiasm building up that is likely to break through as the year progresses and the inevitable rate rise approaches."

Murphy added low mortgage repayments  "won't change overnight with incremental base rate increases on the cards – but the prospect of a rate change makes it worth revisiting the decision to stick or twist with your existing mortgage."