Several Factors Point Towards the Need to Remortgage Now
There are several factors which are screaming at homeowners currently to remortgage as soon as possible. This window of opportunity will not stay open long. Going through such historic times with low rates and terms which are so favorable, should push those who are hesitant about it to go ahead and remortgage now.
With the chance of a double dip recession, inflation which could push up interest rates and remortgage deals which are the best in 35 years. The opportunity is certainly there for a favorable remortgage. Taking inflation into consideration the Consumer Price Index has fallen from 3.4 to 3.2 in June. But the continuing trend of being over 3 means inflation is still at too high of a rate. With inflation comes higher interest rates to control inflation. This alone should be a concern for possibly remortgaging. Other reports suggest home sellers are flooding the market and house prices are expected to fall. A reduction in home equity occurs when home prices fall, yet another reason to consider remortgaging now. Overall, there are just too many factors that are in favor of a successful remortgage and those who don’t take advantage of them will be sure and regret it later.