This week the Bank of England’s Monetary Policy Committee will be meeting for the last time this year.  The discussion is expected to focus on the real threat of a second recession for the UK as well as the declining and struggling economic pictures of the eurozone and the US.  More quantitative easing discussion should be expected in the meeting.  The MPC will also discuss the standard base interest rate as well as inflation but will not likely raise the rate which will leave it having sat at 0.5 per cent throughout 2011.

Experts believe that the standard base interest rate will stay unchanged throughout all if not most of 2012.  This should come as good news for homeowners that were planning on a remortgage but the remortgage deals may not be as good as they are now.  With the recovery struggling as it has the lenders are expected to take on a more cautious tone and remove the best remortgage deals that are being offered now.  Replacement deals will not be at the low and cheap borrowing levels that will close out this year.

Homeowners that have been considering a remortgage should discuss their intentions with a remortgage broker or lender and get a feel for what is expected in the next few months.  By waiting only a short time before remortgaging a homeowner could miss out on saving thousands of pounds.  While the MPC may not make a move on their interest rate, lenders aren’t expected to let their offerings remain as cheap as they are now.  When the best deals will be pulled for good is unknown but it isn’t expected to be far into the next year.