Remortgaging homeowners will likely see the same standard base interest rate in the weeks ahead as the Bank of England’s Monetary Policy Committee (MPC) is not expected to take action in the next meeting.  The MPC will make their public announcement concerning the standard base interest rate this week.  The current rate of 0.5 per cent has been the same for over two years and many economists expect the rate to remain until the close of 2011.

No matter what the MPC does however, it does not mean that homeowners considering a remortgage have time to waste.  Current deals from lenders are not guaranteed to stay throughout the year.  Lenders use the standard base rate to build their offers but it does not mean that their rates will remain unchanged if the MPC keeps things as they are with the interest rate.  There are other factors that contribute to a lender’s offers which means those can change at any time.

Cheap remortgage deals are being seen from many remortgage brokers and lenders.  Fixed rates are especially attractive and are being grabbed more often than trackers, despite trackers being at extremely affordable levels.  A homeowner that is hoping to avoid future interest rate hikes would do well to consider today’s offers on remortgage deals.  Also, those homeowners who have seen their current deal end and have moved over to their lender’s variable rate will be smart to lower their risk and look into a remortgage deal.  There is always the chance that inflation rates can push the MPC to act and change the interest rate.  Waiting until that occurs will cause a homeowner to miss out on remortgage opportunities that are present now and experts agree that for the right household a remortgage could be a smart financial move.