The past year has been filled with a constant stream of information warning of falling house prices and a housing market unable to weather the Brexit storm. The housing market proved to be resilient however as home buyers stayed focused on opportunities that would help boost them onto the property ladder. Lower asking prices from home sellers and lower interest rates from lenders were too good to pass over and interest in the housing market remained to keep it not only steady but at times surprising the naysayers.

In another report on the state of the housing market, it has been forecasted that the market will perform at 4.1% higher than last year. It is very good news considering that the shadow of Brexit uncertainty impacted the actions of home buyers all year. While caution was the course suggested by most experts for home buyers, they showed up despite the warning and took advantage of lower asking prices and low interest mortgage deals.

Homeowners have been busy seeking remortgages. There are many reasons for the high demand that has been consistent over the last few months. One, of course, is to save money. A very large number of homeowners had their mortgage deal end last month. Those homeowners could remortgage or they could allow their lender to move them to the lender’s standard variable rate (SVR). Since SVRs of some lenders are double or more the mortgage rate those homeowners were used to paying, a remortgage could offer substantial savings.

Homeowners are being encouraged to seek a remortgage. There could be substantial savings to be found, especially for those homeowners that had their mortgage deal end in October and have been moved to their lender’s standard variable rate (SVR). Those homeowners could discover that a SVR has an interest rate at double or more the rate they were used to paying.

The current interest rates have been spectacularly attractive in the last few months. Lenders are keen to grab the attention of borrowers and are offering creative and attractive mortgage and remortgage deals. For some lenders, their current lowest interest rate offering is at an historic low. Now there are whispers from experts that interest rates could be about to get even lower.

The housing market may not be in strong growth as in years past, but has been resilient during an unusual time due to Brexit. Most experts forecasted doom and gloom for the market. However, the market surprised those experts. Growth remained. Though not as robust, it has remained attractive to home buyers. There are too many opportunities to not pay attention and take advantage of the benefits available.