Cheap Remortgages Are Still Available.

The introduction of the unbelieveably low Bank of England base rate was meant to kick start the economy and keep interest rates low. The Government hoped that this low base rate would encourage financial growth, and encourage banks, building societies, etc. to lend and consumers to borow. However in spite of the great hope and high expectations, things have not worked out as expected. Remortgage and mortgage interest rates have started to rise, and so it would be prudent of you to consider your mortgage and remortgage options now, especially if you are at the end or nearing the end of your tie in period with your current lender, and therefore will not incur any early repayment charges. There are literally thousands of remortgage deals in the market and you can seek the advice of an independent expert if you feel the many choices are rather daunting. There are tracker remortgages which track the Bank Of England base rate, and so will seem cheap at present, but when the base rate increases so will your remortgage payment. The majority of homeowners at present are enquiring about a fixed rate remortgage, and this means that for the fixed period whether it is two, three or five years or whatever your payment will remain the same.