Remortgage Rates may increase very soon according to a new consensus of opinion. The current base rate of 0.5% has been stable for well over a year now and many customers are sticking to their banks standard variable rate. However, many top analysts are suggesting that consumers consider moving to fixed rate deals in lieu of future rate increases.

One study shows that mortgage rates could rise to 8% in 2-3 years, this would mean huge problems for homeowners who are getting used to their current lower repayments. Also, some banks are putting up the rates on their own standard variable products despite the base rate. This is going against the usual trend of banks using the base rate as their yard stick.

There are some good fixed deals on the market at the moment and now could be a perfect time to look at how things COULD change if rates increase. Using a remortgage calculator can help to show the effects and budgeting for future swings in the economy is only prudent.

House prices have also dropped in September according to Halifax, this will make remortgaging harder, should that trend continue. Currently remortgages are available with a loan  to value of 85% an uunder. In reality though, the higher loan to value mortgages are only available to those with a lot of equity and a great credit rating. With more and more pressure on banks to lend, this may change soon but is always dependent on house prices staying solid.

Remortgaging your property is a big decision, although many people want to go direct, it is often wise to take professional advice for sucha huge decision.