The UK housing market is holding its own against the gloom and doom forecasters that expected Brexit’s deadline to bring a chill to the market. However, before consumers knew that Brexit would be delayed until autumn, hopeful home buyers chose to take advantage of low interest rates and aggressive home sellers looking to part with their property. This has led many experts to be shocked as to the data revealing the optimism shown by mortgage borrowers.

Lender competition coupled with a significant number of mortgage holders searching for a new deal are expected to boost the number of remortgage approvals later in the year 2019. Lenders are currently feeling the strain of a lack of activity within the housing market which is causing them to turn up the heat and offer more attractive deals. A majority of property owners are currently sitting on the fence in regard to buying and selling which has led to inactivity and a pause in the overall number of transactions.

A recent report from Moneyfacts reveals that more homeowners are expected to remortgage in the coming months. Rather than paying more than they have to, the homeowners will shop for a remortgage that offers a lower interest rate, a fixed rate to protect them from rising rates, and for the ability to offer peace of mind in the days leading to Brexit.

Another report on house prices in the UK revealed growth. The growth could be a surprise to those expecting the delay in Brexit to cause house buyers to stay away, yet it appears that consumers are keen to get on with their lives and that includes achieving the dream of being a home owner. The Office for National Statistics (ONS) reported that the average house prices grew by 0.6% in the year to February.

The UK housing market is in the middle of a pause moment with many sitting on the fence with regard to buying or selling decisions. With Brexit now in a delay, those decisions will continue to sit undetermined with more uncertainty in the market to come. What is happening outside buyers and sellers though could be insight into what is happening in the background which gives some predictions of the times ahead.

House owners across the country have now been on the fence in regard to big housing market decisions for some time. Uncertainty about what will happen exactly as Brexit takes place has placed many questions in the psyche of property owners. Whether to sell now or buy now has taken center stage as we have now been placed in a pause moment similar to being on a plane in a holding pattern before landing. There is good news however. Due to a subdued housing market lenders are inching closer to a very competitive space, and that is good for borrowers.