Homeowners have had their hands cupped to their ears listening to the rumors of a possible interest rate cut by the Bank of England’s Monetary Policy Committee (MPC).  As of late there have been many experts speculating that there could be a possible cut in the standard base interest rate from 0.5% to a very low 0.25%.  However, those rumors have been put to rest with the Bank of England’s Governor, Sir Mervyn King assuring that there would be no change to the interest rate but rather other options would be considered before a cut in the rate.

The news will be a disappointment for those homeowners that were waiting for the next big interest rate cut but in reality they should lighten up on any doldrums the news brings and take a look at the current remortgage lending market.  There are terrific deals available and it won’t take a cut by the MPC to keep the remortgage deals from being a great bargain.

Lenders are currently in a more competitive mode and are hoping for the attention of homeowners in need or want of a remortgage.  Fixed rates at long terms are at some of the best interest rate offerings seen in decades.  In fact current fixed rates from some lenders have reached historically all-time lows falling below 3%.  Of course the cheapest and most outrageously low interest rates will be only within reach of those with adequate equity levels but no matter the amount of equity, the loan to value level needed or complications to a remortgage such as bad credit, a homeowner would do well to consider a remortgage deal now while the offers are attractive and lenders are ready to make great remortgage offers.