Much has been said regarding the UK housing market and what it will look like following Brexit. Some forecasters see the market spiraling, and some see it completely exploding with growth and thriving. All this is pure conjecture at this point and what will happen remains uncertain. This descriptive word “uncertain” has been widely used as we move closer to the day of Brexit and what could possibly take place. Some property owners are sitting on the fence of making decisions and for good reason. What remains a wise choice regardless of Brexit is the certainty with which we can greet tomorrow with our finances in mind.

With Brexit within one month from taking place, house owners are being urged to take a closer look at the possibility of what a remortgage can do. Many property owners have already taken advantage of lenders pushing to increase their market share of clients. The competition among the lender community is quite heated as many on the fence about buying or selling decisions could be soon making decisions prior to Brexit. The weeks are counting down, but there is still time to apply for remortgage.

First time home buyers within the UK housing market are making a serious effort to gain a spot on the first rung of the property ladder. The latest data indicates the group is borrowing more than ever in an effort to move up and into their first home. As first time buyers are putting effort into landing their own homes, there is a concern about what could happen in the event of an interest rate increase for the ambitious bunch.

The rush to remortgage may be revving up as data is showing an increase in remortgage lending. The same reason homeowners are expected to remortgage in the coming weeks could also be why first time home buyers are returning to the housing market. The likely reason that most are pushing the effort to borrow is that there are still low interest rates available from lenders. However, there is an expectation that the current rates will disappear into history with more interest rate increases possible this year and next.

As Brexit begins to come closer into focus, the UK housing market continues to change slightly day by day. Mortgage lending provided by lenders of all sizes remains part of this change and remortgage deals are getting sweeter at every turn. Borrowers are finding low interest rates and improved mortgage packages from several different lenders. Competition for mortgage lending is at an intense level and borrowers are benefitting in a major way.

Borrowers coming to the end of their introductory mortgage offer have much to decide going forward. They can allow their loan to switch over to the lender SVR or they can spend a little time in research and choose to remortgage. After some time measuring the pros and cons, many property owners make the choice to remortgage. However, after spending a little time deliberating, many borrowers are still choosing to go with the lender SVR. This could wind up being quite a costly decision according to the latest figures regarding the choice to remortgage or switch over to the SVR.