Many families set goals at the start of each year and set bullet points for where they want each part of the family budget to be by the end of twelve months. Some are focusing on lowering the overall utility cost of the home in which they live. Some are looking at reducing the amount of petrol they consume each year. And some are looking to shrink the amount of cash spent on the mortgage each year. The perfect time to remortgage could be here.

A perfect storm has taken place, according to many close to the UK housing market. Interest rates are extremely low, lender competition following the summer selling season is high, and a climate of uncertainty regarding the future hangs over the market.

Interest rates could possibly be rising in the coming weeks, if not already. Anticipating a hike in interest rates, lenders have already jumped into action and increased the rates on many of their more attractive deals. Lenders must stay ahead of the rate rise.

Lender competition is keen. A climate of urgency can be felt everywhere as many lenders are in heavy competition to land the next mortgage deal. This means borrowers are still in the driver’s seat with a few weeks to go in the year. There are many attractive deals still on the table and waiting to be scooped up.

Uncertainty for most people is worse than bad news. The future of conditions within the housing market is not an exact science. Predictions and forecasts are constantly being broadcasted with few hitting the exact mark each time. It is the perfect time to protect yourself against future increases in interest rates.

The year has not concluded. Housing experts are still urging house owners who have not remortgaged to still consider it. A household budget is a priority and must be held in high regard through this year and any other year. A remortgage could be the solution to finishing the year strong.