The cost of living seems to be going up constantly with little relief in sight. As hard working citizens, we are finding it more difficult each year to afford life’s necessities. The list of must-haves includes a place to rest our heads, clothes for our backs, and a suitable form of transportation so we are able to afford the other two. Recently, a study found the cost of at least one of these items, housing, will rise dramatically in the years to come. It is estimated the cost of a house will increase 20% over the next decade.

Now, that is only an average of 2% more each year for the cost of a house in the UK. That can be looked at with little surprise and it can be seen as an eye-popping shock. Many of us do not consider our budget for a year from now, and forget about a decade from now. The truth is 20% is no small amount in any form.

The time is now to start defending ourselves against the increases in property cost. Currently, home owners are in possibly a perfect position to remortgage with a fixed rate and start saving against the expected rise in housing. Experts see this as a wise time to move on a remortgage due to low interest rates and lender competition. This is not to mention the potential increase in interest rates which is coming in May of this year.

Remortgaging now could be the start of cost relief many have needed for some time. It could also mark the time for defense against rising real estate costs which have been predicted by housing specialists to take place in the next ten years. Now is the time a household could truly benefit from a remortgage.