In the wake of the latest round of uncertainty and possible increases to interest rates, remortgage products from some lenders are becoming even more advantageous. These latest deals placed on the table could be the last reductions and longer term deals offered before interest rates are hiked. Some experts believe interest rates could be hiked in the coming months and would likely move before then in regard to what is actually being offered in mortgage deals.

Some lenders are offering longer term fixed deals as well as lower interest rate products starting immediately. Inflation, along with uncertainty due to Brexit outcomes is leading some to believe this could be the best time to remortgage with assurances in place of obtaining the best deal possible.

Housing market experts are not currently able to predict what will happen in the coming days and weeks. The market is seeing inflation increase to almost 3%, wage increases stalling, and many consumers resorting to credit cards in order to make everyday purchases. These items combined are the main ingredients of interest rate hikes in the past and this time could be similar.

Those who have chosen to remortgage before now are seeing sizeable benefits. The monthly mortgage is now smaller and more manageable. Term length of their mortgage is now possibly longer. And, they have accessed home equity which has made it possible to afford a holiday or start the home renovation they have been planning for years. Overall, they have relieved the strain and stress of a tight home budget and potentially given themselves more cash each month to pay for the necessities of life.