Many lenders are cutting interest rates on fixed rate deals in anticipation of a spike in demand before a potential standard base rate rise in August. This move by lenders to grab the attention of those home owners now seeking remortgage before their monthly mortgage repayment increases is one more thing which makes it a borrowers’ market currently. Lenders are also offering discounts on valuations and closing costs. Some are even offering cash back.

This spike in offers for free and discounted services places borrowers at a distinct advantage and makes the lending decision that much easier. The potential for a rate rise in August is gaining ground as many lenders are approaching the month with incentives and motivators for all those still undecided about their housing strategy.

Those choosing to make a move now will find great advantages to a remortgage as well as an original home loan. Interest rates remain at historic lows despite everything which looms over the housing market. Brexit, stamp duty, and other factors have introduced conditions which make it difficult for any home owner or potential home owner to feel strongly about a decision to purchase or wait, remortgage or possibly sell.

Remortgage has the ability to do what many other options fail to do. It is possible to obtain a lower interest rate, gain access to cash, and then possibly start a home renovation or pay off old debt.

Conditions are prime to obtain a remortgage now and see benefits not only immediately, but well into the future, according to many close to the housing market.