Remortgage Deals to The Rescue for Homeowners

There is no doubt that the stress levels for some homeowners have been running high. This is likely most true for those leaving behind historically low interest rates as they come to the end of their term in 2024. During the pandemic, the Bank of England’s Monetary Policy Committee (MPC) lowered the standard base interest rate to the lowest in the Bank’s history to almost zero at 0.1%. It reached this low in March 2020 and was the last time a cut has been made by the MPC. Due to inflation, the MPC began increasing the rate in December 2021 and it grew to 5.25% by August 2023.