UK housing price growth is falling. During the month of September the market posted the highest level of decreasing house prices seen in the past six months, according to Halifax. The number of houses available on the market for purchase has also fallen to a level not seen since the economic collapse of 2008. House price growth is tied completely to demand with other factors having minimal influence. Brexit uncertainty is being blamed for the sluggish climate which now exists in the housing market.

The UK housing market has seen its fair share of rough waters this year as the warm summer months are traded for the chill of autumn. Increase to the standard base rate, new tax laws, struggling house price growth, and the looming uncertainty of Brexit have created a market full of questions for the future and few solid answers. The biggest expectation for house owners as well as landlords at this point is few favourable remortgage deals available.

Remortgage process time has in recent years been streamlined and can now be completed in much shorter time. As house owners remortgage now, they can turn to an online application option which allows them to obtain remortgage much faster. Typically, a remortgage now takes about a month for a house owner who is staying with their current lender and up to three months if they decide to move their loan to another lender. Those who obtained a Help to Buy Loan in the year of its origin, 2013, are now facing a much more cumbersome task than traditional remortgage applicants.

A new report on the housing market has revealed that house prices rose slightly in September while London experienced yet another decline. Despite higher interest rates, or perhaps due to the latest increase in the Bank of England’s Monetary Policy Committee (MPC), hopeful home buyers have shown strong interest in the close of the third quarter of the year. Lenders are still offering low interest rate deals on mortgages as some have yet to push the increase by the MPC onto borrowers. Rather than waiting till the rush before another increase, borrowers are seeking out the low rates currently available.

Landlords are the latest group of property owners to be targeted with attractive remortgage deals. For several years, home owners have been the fortunate group being able to take advantage of many incentives which come with remortgage. Those incentives include, but have not been limited to, low valuation fees, low to free legal fees, low administration fees in general, and now cash back options. The market is now offering similar benefits for landlords with buy to let property.

Three quarters of the year are now complete and the countdown to the New Year is here. As days are numbered until the end of the year, home owners still have a chance to remortgage and potentially begin saving money. In a very short time, we will be sitting in the middle of the first quarter of 2019 and preparing for Spring to rush in. But for now, the housing market is still residing in quite a favourable climate to give what house owners need more than anything – a way to save.