Brexit and the uncertainty it has caused within the UK housing market has been an issue with many property owners and non-property owners for most of the last two years. Many house owners feel a non-decision is much more effective at the current time than a bad one. As costs continue to rise naturally on everyday items like petrol, clothing, and food, we are still always in search of a way to help cut cost and live without heaps of stress. A remortgage could be the answer to both dilemmas.

It might be a perfect time to consider remortgage. Experts within the housing market see this as a favourable time to consider remortgage and for good reason. Fundamentals of the housing market for a positive outcome with remortgage are abundant.

First, interest rates remain at quite a low level. Historically speaking, interest rates are still at levels which equate to saving money for most house owners seeking an option to a high monthly mortgage cost. In the last two years since the Brexit vote, there have been two interest rate hikes. These hikes have only brought the current base rate level to 0.75%.

In fact, there have only been two base rate hikes in the last decade.

This is quite important for anyone looking to improve the interest rate connected to their mortgage loan. Interest rates greatly impact the amount of a monthly mortgage payment. In essence, lowering an interest rate on a loan lowers the monthly mortgage payment.

Second, lending institutions are in heavy competition at the moment. Many house owners are putting decisions on hold which is creating opportunity for those looking to change.

Housing specialists see this time as possibly full of opportunity for those in search of potential savings on the cost of the monthly mortgage.