In the last quarter of the year, particularly in the month of October, a large number of homeowners were due to have their mortgage term end. For those homeowners, the choices were to either remortgage or allow their lender to move their mortgage loan to the lender’s standard variable rate (SVR). While SVR interest rates are considered risky for the homeowner that doesn’t have a budget that can easily fluctuate for interest rate changes, in years past the SVR was low enough to make it somewhat attractive and an easy option for homeowners. However, all that has changed.

Should you buy now or wait it out is the question for most hopeful home buyers. Brexit has taken its toll and caution has seeped into the veins of even the most optimistic consumers and borrowers. Yet, in this unchartered territory for the economy there exists opportunity for a home buyer to not only purchase at a time when asking prices are low and interest rates are for some lenders at historic lows, but when house prices are expected to bounce upward in only a very few years.

Homeowners are busy looking into remortgages. If they aren’t, experts say they should be due to the many opportunities in today’s remortgage lending market. Lenders are competitive because there are so many homeowners that were expected to have their mortgage deal end in the last quarter of the year. To gain the attention of those homeowners, lenders put out remortgage deals that would be sure to be noticed. Therefore, there are some of the very best remortgages to have been seen all year available now.

It would be an understatement to say that the conditions our economy has been operating in were simply abnormal. Never has there been a Brexit and especially such an occurrence right after a recovery from a recession. Yes, the economic crisis recovery was just back around the corner when the Brexit vote happened. Things have certainly been different and that is why any expectations or forecasts by experts have felt more like guesses or politically charged.

The current status of the housing market has kept home buyers interested despite the expected impact from Brexit. Lower asking prices and for some lenders historically low interest rate mortgages have combined to make getting on the property ladder or moving home cheaper. The housing market has surprised experts with home buyers staying busy purchasing properties, including first time buyers.

Brexit may have been forecasted to take its toll on the UK housing market, but hopeful home buyers have found opportunities worth staying interested. Asking prices of properties have fallen to the point that home buyers are able to shop homes that would have been out of reach before and low interest rate mortgages are making borrowing cheaper. Lenders have also been offering creative deals that assist first time buyers and also high loan to value deals with attractive interest rates.