Uncertainty created by Brexit could finally be laid to rest soon as negotiations are coming to a close. Those holding off on making any kind of move within the UK housing market could be free soon. Some experts believe more than a third of all home movers are waiting to see exactly what will come of the negotiations before actually making a decision. Although uncertainty has dominated the climate within the market for months now, it could quickly come to an end.

As the year concludes and home owners tidy up their residences for the beginning of the New Year, thoughts of other areas to tidy up are also of importance. Financially, we all do an inventory of the past year, if not on paper, at least in our minds. Did we save money this year? Did we spend too much this year? Are we meeting the New Year with more savings in the bank than we had last year? These questions and others are some of the things we consider and are important moving on to another 52 weeks.

Recent figures regarding remortgage activity as well as other mortgage lending highlights the number of loans which matured earlier this year – especially during the summer months. The latest data from UK Finance indicates all mortgage lending has slowed. The month of September posted figures lower than a year ago. Residential remortgages numbered 35,600 and buy to let remortgages totaled 12,300. These figures are lower by 0.6 and 0.8 percentage points lower than the year prior.

Taking on a home mortgage in today’s world is no small feat. There are other financial stresses which affect everyone each day which are difficult enough to keep up with. There are food costs, petrol costs, clothing costs, and more. Affording basic necessities is saying a lot in these days with slow wage growth and inflation creeping in to many of the products we must have each day. Now, there is another challenge facing potential home buyers. Lenders are being blamed for not keeping pace with the needs of the modern borrower.

House prices in the UK housing market have been on hold for the last few months and some housing experts even call them stagnant. Many reasons are being pointed to as this has created significant concern over time. Uncertainty within the market due to Brexit concerns, lower demand overall as the selling season has ended and many are looking to the holiday season, and challenges with wage growth have all been the focus of lower prices. A major point of concern as the year comes to a close is the possibility that house prices will drop even further with a No-Deal Brexit.

The holiday season is quickly approaching and with it all the stresses and time commitments which come with it. The days are nearing which will naturally make us take our eyes off the financial stresses in our lives and focus on what matters most – being grateful and celebrating the holiday season. We do however remain in a period with low interest rates and other incentives on remortgage deals which could make a financial difference entering the New Year.