Recently released UK housing market data indicates incentive for remortgage is at a level not seen in more than a decade. The mortgage lending tool could now be an answer to many house owners looking for a way to save money. According to data from Moneyfacts, incentive to remortgage is due to the rate at which house owners could be moving onto after their initial mortgage matures. In many cases, mortgage holders could be looking at a rate which is twice that of their original rate with their lender SVR.

Brexit and the uncertainty surrounding it have created a market which can be considered by house owners one in which it is hard to nail down tough decisions. Not knowing what the best move is currently is the biggest decision of all for many owning property. Housing market experts are even having a difficult time forecasting what might take place as we see Brexit appear in the distance, but start to become clearer. For house owners considering remortgage, the best decision is to keep focus on the details at hand.

Recently released figures from the UK housing market illustrate a market which is still blanketed with uncertainty after house price data in December. House price growth for the month totaled 0.5% which is compared with 2.7% in the year prior. Overall, house prices actually fell compared with the month of November. The capital city of London saw a decline in property prices of 0.8% in the last month of the year, bringing the average property price to £466,988, according to Nationwide.

The New Year is off to a running start within the housing market, including all the opinions regarding the future of house prices as they relate to Brexit which is taking place officially on March 29. House prices historically have been tied to a market’s strength and once again the year 2018 demonstrated that this market owns a strong level of resiliency. House prices grew modestly last year and the same is expected this year. Regardless of house price growth, remortgage is still being considered a wise move in the New Year.

The New Year has begun and house owners are spending precious time figuring out the best method to saving money throughout the year. One of the most convenient places to start is in the home. There are a myriad number of ways to cut costs in a home. Placing more insulation within the walls is a place to start to lower power bills for heating. A house owner could also cut down on the amount of water used within the home to lower bills. But, house experts are still urging those who have not considered a remortgage to do so.

January is expected to be slow in the start of the New Year for the housing market. It is therefore also expected to be a slow start for 2019 for mortgage lending. The month of January is normally a slower month as people return to a more normal life after the holiday season. The cold weather also impacts the housing market and mortgage lending. This year there is the uncertainty of how Brexit will impact the economy that will surely slow down hopeful home buyers from jumping into the market.