At the center of the UK housing market is the capital city of London and a place where property values have been on a robust trajectory for the last decade. Recent figures have now surfaced which reflect a cooling period and turbulent waters for the last two years. Now, Brexit uncertainty and stamp duty laws have taken their toll on the prices which have been headed north for as long as we remember. House prices fell in October which brought down the national average of property value to the lowest point in five years.

The number of approved mortgages in the UK housing market for the month of November looked similar to the month prior as the figure was flat month on month. There were 67,109 mortgages approved in November compared with 67,011 in the month of October, according to data from chartered surveyors. First time buyer impact on the number of approved mortgages increased, but the group of borrowers who continued to be quite strong was that of remortgagors.

Another year is almost in the books and one thing house owners can leave this year knowing is that a suitable remortgage is still possible. Although there have been two standard base rate increases in the last twelve months, the market is leaning straight towards borrowers as the year comes to a close. It is a week from Christmas and lenders are making it more than possible for house owners to find a deal which could possibly lead to massive savings for the year 2019. It only takes a small difference in the interest rate to make a major difference in the amount of a monthly mortgage payment amount.

The winter weather months are a normal slowing down season for the housing market. As people are focused on the holidays and preparing for fewer days outside, hopeful home buyers are distracted. With the uncertainty connected to Brexit, perhaps some are choosing to allow a new year to come and bring more confidence before buying. There could be many factors at play causing a more than usual impact in the market.

Further indication the UK housing market is slowing down has recently surfaced. According to figures from Royal Institution of Chartered Surveyors, many who were leaning towards a purchase or a sale of a property are now sitting on the decision and have decided to shelf the idea for now. Brexit uncertainty has now affected most areas of the housing market in the opinions of housing experts and waiting until after Brexit takes place could be the best move.

The UK housing market has made no secret of the fact that remortgage is providing significant savings for house owners now and will likely continue for several months, according to housing experts. Numerous property owners have benefitted from this type of mortgage lending and have seen a new financial future form before their eyes. What was once a mode of lending not considered popular is now leading the entire sector towards the official Brexit date of March 29. What many still do not know however is how many incentives are currently being offered by lenders to remortgage.