Interest rates for remortgages in the UK are expected to change a little amid forecasts that the standard base interest rate of the Bank of England’s Monetary Policy Committee (MPC) will remain unchanged, according to a report.
It noted that the weakening economy has caused lenders to become more cautious, which has led many to consider cutting the amount of loans given to borrowers.
Some expect borrowing to cost more, while certain lenders have already announced their intention to raise the standard variable rate (SVR).
Meanwhile, homeowners arranging remortgages have been urged to carefully consider the deal if they want to benefit from lower offerings as well as higher loan to value levels.
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