House prices rose by a modest amount in the last twelve months according to Nationwide. The subdued market is likely due to the uncertainty of Brexit. However, the economic environment has been attractive to first time buyers as they are capable of securing low interest rate mortgages, lower deposits, lower house prices, and assertive home sellers.

It is a little over two months until the Brexit deadline of 31 October sends markets into a spin. Deal or no deal there will be an impact according to experts, and currently the expectation is no deal. Experts are telling those that will need to remortgage during that time period to start thinking now about what action they will take. There are a high number of homeowners due to come off their current mortgage deal in October, so many are now in a hard situation as to whether to remortgage quickly or wait.

The housing market is expected to remain strong throughout the summer, but things could change up as autumn arrives. With Brexit set for a deadline of October 31, experts believe the housing market could hit a slump. To evade that situation, there are those that see a solution by an overhaul of the stamp duty. By raising the level it could entice buyers to the market, especially first time buyers.

Homeowners have a lot of benefits available to them with remortgages and that is why the demand for them has continued to be strong. According to data released by LMS in their Monthly Remortgage Snapshot, remortgaging has been close to a 12 month high. In May there was a high of 54,624 in remortgage volume and in June there was a slight decline to 53,516 remortgages reported.

House prices in London are continuing to adjust downward. What is a homeowner in the capital or even outside of it to think? How does this eventually impact homeowners as well as home buyers? Are the falling house prices a natural correction and a good thing overall or is it a warning of gloom and doom for the housing market?

The Bank of England offered up a lot of new economic information on Thursday. The most notable is that they cut their forecast for UK growth over the next two years and warned that their forecast could be impacted by whether there was a deal or no deal for Brexit. The economy is now forecasted to grow by 1.3% for 2019, which is a mark down from the previous projection offered earlier this year in May of 1.5%.