Remortgage has grown to new highs within the last twelve months and this comes as no surprise to housing specialists. Within the last sixteen months there have been two increases to the standard base rate which have prompted massive periods of remortgage rush each time. Housing experts are still urging those who have not remortgaged to do so before another increase takes place. A remortgage has the ability to change the financial future of most households and that is potentially life changing for many property owners.

Overall health of the UK housing market has always resided in one area. The number of first time buyers has always been a sign of a market thriving or just sliding by. According to the latest research, first time home buyers are not only exceeding many expectations within the market, but they also now make up the largest group of mortgage holders. Data indicates they are now the largest number of property owners for the first time in the last two decades.

Much has been said regarding the UK housing market and what it will look like following Brexit. Some forecasters see the market spiraling, and some see it completely exploding with growth and thriving. All this is pure conjecture at this point and what will happen remains uncertain. This descriptive word “uncertain” has been widely used as we move closer to the day of Brexit and what could possibly take place. Some property owners are sitting on the fence of making decisions and for good reason. What remains a wise choice regardless of Brexit is the certainty with which we can greet tomorrow with our finances in mind.

With Brexit within one month from taking place, house owners are being urged to take a closer look at the possibility of what a remortgage can do. Many property owners have already taken advantage of lenders pushing to increase their market share of clients. The competition among the lender community is quite heated as many on the fence about buying or selling decisions could be soon making decisions prior to Brexit. The weeks are counting down, but there is still time to apply for remortgage.

First time home buyers within the UK housing market are making a serious effort to gain a spot on the first rung of the property ladder. The latest data indicates the group is borrowing more than ever in an effort to move up and into their first home. As first time buyers are putting effort into landing their own homes, there is a concern about what could happen in the event of an interest rate increase for the ambitious bunch.

The rush to remortgage may be revving up as data is showing an increase in remortgage lending. The same reason homeowners are expected to remortgage in the coming weeks could also be why first time home buyers are returning to the housing market. The likely reason that most are pushing the effort to borrow is that there are still low interest rates available from lenders. However, there is an expectation that the current rates will disappear into history with more interest rate increases possible this year and next.