Interest rates are currently driving the interest in remortgage for many house owners and the likelihood that the rates could stay at this low level just got better. June figures for inflation made a slight correction and now sit at 2.6%. Inflation did sit at a four-year high rate of 2.9%. This reduction in inflation will alleviate pressure on the Monetary Policy Committee to raise interest rates in the next meeting. Some housing experts see this as a bright spot in the war on uncertainty which presently resides in the minds of many housing analysts.

Remortgage conditions have been optimum for much of the year and started a few months from the end of last year, according to many close to the sector. Low interest rates have made it possible for lenders to put deals on the table which help house owners convert their SVR to a fixed rate and potentially save hundreds each month.

Inflation however threatened those favourable conditions and made it possible for the Bank of England to be forced into raising rates. That was a month ago, now the situation has changed. Inflation is closer to the Bank of England goal of 2.0% and the likelihood of interest rates increasing next month has gone down drastically.

Although wages are still not growing at a pace favourable to many within the workplace, a drop in consumer prices will help make managing the family budget easier. House owners will likely see their pounds go further in the coming weeks than they have been.

Experts are still suggesting home owners consider a remortgage well before the possibility of interest rates are hiked, which could take place sooner compared with later.