Remortgage Deals Improving as Year Comes to a Close

Remortgage Deals Improving as Year Comes to a Close

With uncertainty dominating the headlines due to Brexit negotiations and the inability to forecast much moving forward, many borrowers are sitting idle until the New Year. Although this has placed hesitation on the plates of many close to making a decision whether to buy, move, or otherwise, there could be an area which offers financial optimism for households looking for savings. That area could be remortgage.

Lenders have held off raising interest rates for weeks and months following the latest increase of the standard base rate which took place in August. Many on the verge of making a major decision on moving home or remortgaging could only sit and wait. Since the Brexit vote, many house owners and others looking to potentially buy a home have been unable to move forward due to uncertainty which is present every day in the housing market.

Some lenders are now moving forward with raising interest rates and other lenders are actually lowering rates on original loan products as well as remortgage.

A major lender recently announced products which are now being offered with lowered interest rates as well as revamped LTV products on new residential purchases.

For house owners waiting until more concrete footing is available within the housing market now could be the time to move on and apply for remortgage. It is the end of the year which means lenders could be free of a mass of applications coming at them at once. The process could possibly speed up at this time of the year whilst so many are focused on getting through the holiday season.

Housing experts see this as potentially a good time to make a decision to remortgage and see what possible savings could be realised.

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