The Bank of England Monetary Policy Committee voted early last month during its scheduled meeting to do what many expected it to – raise the standard base rate. This is the second increase in the standard base rate in twelve months and one which was forecasted and hinted at for months before actually happening. May meeting of this year was supposed to result in a hike of its own, but economic figures did not support such a move. The base rate has now been increased twice in a short amount of time leaving borrowers wondering if they have missed an opportunity to obtain a low, fixed rate remortgage. The answer is a resounding, no.

In recent days, some high profile lenders have released news of changes related to their current lending deals. In addition to positive news surrounding original loan packages, remortgage deals with low, fixed rates are still popping up.

This means house owners who have been undecided about a remortgage still have the time and resources to obtain a low, fixed rate remortgage. This ultimately means there is still an opportunity to save money on the cost of the monthly mortgage payment.

Every household is constantly searching for ways to cut costs, ease the financial burden, and reduce monthly outgoings. Lenders have just made it clear they are able to make that happen.

Uncertainty of Brexit coupled with a holiday season quickly approaching has the possibility of causing stress on any household budget. Remortgage could potentially squelch that stress and reduce the weight of financial pressure as the year quickly comes to a close.