UK House Owners Could Save Big Money with a Remortgage Now
A rumour regarding the possibility of the US raising interest rates next week is circulating and making waves in the same rhythm as the ebb and flow of waves seen on any coastline of the UK. The rumour has credibility behind it, but many are waiting with bated breath to see if the rumour comes to fruition. If interest rates are hiked there will likely be waves of action from it occurring in many countries. There is a possibility it could affect decisions regarding interest rates in the homeland, but many around the housing market doubt it.
Some UK house owners will likely notice the change in the US and base their next mortgage lending decisions on what happens across the pond. The US economy is heading north currently, just like the UK economy. This should not affect the decision to remortgage in this country, however.
Rates available on fixed lending products are incredibly low and should remain at this level for possibly a few more months, or until more clarity for the timing of the rate hike comes. Those obtaining remortgage products currently are saving money on the cost of their monthly mortgage payment and not looking back. They are also making it possible to afford items on the financial wish list like home renovations, paying off old debt, and taking holidays which have been discussed at length but never acted upon. These are just some of the advantages of a remortgage, and according to many within the UK housing market the time is now.