Is there anyone that couldn’t use a bit more cash in hand these days? The ability to get more cash might be through a remortgage. Homeowners are seeing the value of their homes increase even while in the midst of a pandemic. In fact, some are seeing the value of their home increased by double digits in just the last six months. The reason that home values are increasing is due to the high demand from buyers in the housing market. The average house price in the UK hit another high last month, and homes are staying on the market for fewer days before finding a buyer. This in turn is increasing the value of properties in the UK.

Homeowners are facing many choices currently. There is no clear choice as to which would be the best course to follow when it comes to the lending market. The good news is that while there may be conflicts as to which choice is right for each homeowner, at least there are choices and more than one. In addition to the variety of paths to take, remortgage, not remortgage, or sell, there are advantages to each choice and only one might be the wrong choice for most.

Buying a home is a dream come true for home buyers. The stress of shopping, the process of securing a mortgage, and then actually taking possession of the property can be filled with ups and downs. For first time buyers, it is usually a leap into the unknown as many have little knowledge of all that will be required and the steps that are taken to buy a property. Once ownership is secured with a mortgage, the new homeowners get on with living and take little notice at what is occurring with the loan they first obtained.

The housing market could be in the midst of a super boom according to Nationwide. The demand for property is at a major high. In fact, house prices grew by the fastest rate since 2004. The factors in place are all combining to push prices higher as activity continues in the midst of strong demand, low supply, very affordable interest rates, and a strong desire to secure a dwelling that will best suit the pandemic and post-pandemic desires and needs of buyers.

Last week Halifax notified brokers that they would be increasing their interest rates on remortgage deals. It is expected that others will soon follow. Borrowing has been in high demand and the rate increases could be a sign that lenders are reaching their limit on cheap borrowing. Demand will likely continue to be strong even with slightly higher rates. However, it could also be a sign that lenders are seeking to completely escape the bottom level rates that have been available for months now that the pandemic is coming under control.

The housing market is in a boom. Demand is outstripping supply. House asking prices have reached an all-time average high. The average house price across the UK has reached highs in the midst of a pandemic. The strength in the housing market could never have been easily predicted. Despite one of the factors stimulating the housing market expected to end in the months ahead, the property lister Rightmove is predicting a strong year start to finish for the housing market.