The fate of interest rates for the month of April has been voted on in the latest meeting of the Bank of England Monetary Policy Committee. Unanimously, the committee voted to keep the standard base rate at the current level of 0.75%. This is the rate which has remained from August of last year. Prior to August, the rate was increased in the month of November in 2017. Interest rates have massive impact on mortgage lending as well as other consumer lending.

For years, house price growth within the UK housing market has been on a steep upward trajectory. Housing experts have voiced concern over this rise, the recent data, and how it has affected the first time buyer group. First timers have been forced to wait and save or make the untraditional decision to pair with others and purchase with roommates. House prices thus far have been quite idle in their movement this year according to the most recently released housing data.

Spring cleaning is in full swing for many house owners. Not only are many spaces within houses getting extra attention as we welcome the warmer temperatures of Spring, other things in our lives are receiving attention as well. Things like gaining control of family finances and outgoings are something which can help bring a fresh new sense of control and stability. One other aspect of family finances getting a harder look now is a new way to pay for the monthly mortgage.

The UK housing market is off to quite a nice start this year, according to the latest data to surface. In a year which has been marked the year of uncertainty by many close to the housing market, January started the year with strong showings from first time buyers and those seeking to take advantage of low interest rates through remortgage. Many experts had chosen to avoid making forecasts about the market before the year started due to the possibilities which might take place with Brexit. So far the market has been surprisingly stable according to many housing authorities.

House owners of today are more in tune than ever before regarding home finances and what can affect the family budget. There are monthly mortgage payments to cover, petrol stops to take care of, and the occasional purchase of clothing for the upcoming season. Owners are also always looking for a way to improve their position in the future whether that is next month or next year. One potential method to improving that financial position is to increase the value of a property through equity release remortgage.

More surprises have been revealed in the housing market in the latest report from UK Finance. January data showed that first time buyers showed up and took advantage of the current state of the market by an increase over January 2018 by 4.6%. There were 25,100 first time buyers completed in January.