Currently, there are few things certain within the UK housing market and the future so far is still among many things being debated. In recent times, the Bank of England has not hesitated in raising the standard base rate. This can make some house owners hesitant about making any moves whether considering buying or selling. Many house owners however have turned to a mortgage lending tool which makes sense and ensures some financial stability for the future. That lending tool is remortgage.

House owners have few tools at their disposal for a more certain future than a fixed rate remortgage. It has the ability to lock in an interest rate which works for a house owner and can provide a more certain future in regard to hikes from the Bank of England. Although there have been two interest rate hikes in the previous year, rates are still quite low and have the potential to save many house owners great deals of money.

Rates are expected to increase again before the end of the year, according to many close to the housing market. The standard base rate currently sits at 0.75% and many experts believe the next rate increase could bring the rate at least to 1.0% and possibly higher.

Uncertainty fuels stress and no stress is uncomfortable like financial stress. Housing experts believe a method to keeping financial stress to a minimum is limiting the number of variables out of one’s control. This includes the interest rate which is connected to the mortgage loan of the property. A fixed interest rate gives a house owner the ability to know exactly what the monthly mortgage payment will be today, tomorrow, and next year. A remortgage now could help limit the amount of uncertainty one experiences moving forward.