UK house owners are currently facing uncertain times for those who are closing in on the end of their initial mortgage loan term. With all that surrounds Brexit and the options available it can be a worrisome affair. The good news is that many lenders are making it possible to obtain a remortgage loan with a low interest rate along with many incentives. The state of the housing market is filled with questions, but there are opportunities to save money and create a more positive looking financial future.

Almost half way through the month of February many have already abandoned their New Year resolutions. Some have gone back to eating foods they swore off at the end of last year or have broken the habit of the strict exercise regime they promised themselves. Saving money is another area which could have been left behind in favor of another type of financial management. Fortunately, a lending tool such as remortgage is still available to help those looking to salvage some of those New Year commitments.

It seems time passes faster with each flip of the calendar and before you know it another season is changing. Winter has its firm grasp on the country for now, but in a few short weeks another season will be upon us. Spring brings us one season closer to the beginning of the selling season within the UK housing market; a season which is anticipated this year more than most for the possibilities of what could happen following Brexit at the end of March.

As the official day of Brexit nears, those house owners who have not remortgaged as of now are being urged by housing market experts to consider this as the last warning. There are numerous reasons for taking a look at remortgage at this time and the clock is ticking. Housing specialists across the country see the day of Brexit as full of unknowns. These unknowns could affect the market in various ways, but a fixed rate remortgage deal makes the unknown turn quickly into another type of future.

The standard base interest rate will remain at 0.75% until at least the next monthly meeting of the Bank of England’s Monetary Policy Committee (MPC). The majority vote to keep the interest rate steady will hold off any change to the interest rate, which helps those that are planning to buy a home or those homeowners that are seeking a remortgage. However, the interest rate is not expected to remain unchanged throughout the rest of the year as some believe the rate will increase as early as May.

UK house declined in January by 2.9% from December according to Halifax. The average house price dropped to £223,691. Halifax had reported a 2.5% increase in December. The January drop is the largest since April 2018. Much of the cause of the decline is being blamed on Brexit and the uncertainty for the economy.