Remortgages have been outnumbering mortgage lending for house purchases but there are still a lot of UK homeowners that could benefit from a low interest rate that have yet to remortgage.  More so there are many homeowners that could benefit from the security of a remortgage that would take them off the risky interest rate of their lender’s variable rate.  Those that have had their mortgage deal end and are on their lender’s variable rate run the risk of seeing their interest level increase at any minute if lender’s become more cautious and increase their rate.

Currently there are many extremely low and cheap remortgage deals available from lenders.  The competitive rates that came from lenders have continued to be offered.  Some have shown signs of removing their best deals due to increasing problems in the economic state of the eurozone.  If things worsen there or in the US economy then there will likely be a pull of the best rates.  That is in the future or near future, current offerings are cheap and homeowners could definitely benefit and still find great remortgage deals.

It is expected that the Bank of England’s Monetary Policy Committee (MPC) will leave the standard base interest rate unchanged in next month’s meeting.  Experts don’t think that there will be a change to the interest rate set by the Bank for many months but this doesn’t mean that offerings will remain unchanged.  Lenders can pull their cheap deals at any time.  Homeowners are suggested to make a deal while the rates are so cheap.