House owners on the fence regarding remortgage still have much more to gain than lose, according to many close to the housing market. Rates remain at historic lows and lenders are still in a highly competitive mood. Although Brexit is racing towards us, there remains a favourable state within the housing sector for those in search of a more suitable mortgage lending deal. That deal is being found by many house owners who were also on the fence, but have now decided to give remortgage a chance.

With Brexit less than three months from officially happening, house owners are still uncertain about what might take place with house price values, demand for houses for sale, and interest rates, now could be the perfect time for owners to make a wise choice and remortgage. House owners are now being urged to take a strong look at something which many house owners are already taking advantage of – a fixed rate remortgage.

Recently released UK housing market data indicates incentive for remortgage is at a level not seen in more than a decade. The mortgage lending tool could now be an answer to many house owners looking for a way to save money. According to data from Moneyfacts, incentive to remortgage is due to the rate at which house owners could be moving onto after their initial mortgage matures. In many cases, mortgage holders could be looking at a rate which is twice that of their original rate with their lender SVR.

Brexit and the uncertainty surrounding it have created a market which can be considered by house owners one in which it is hard to nail down tough decisions. Not knowing what the best move is currently is the biggest decision of all for many owning property. Housing market experts are even having a difficult time forecasting what might take place as we see Brexit appear in the distance, but start to become clearer. For house owners considering remortgage, the best decision is to keep focus on the details at hand.

Recently released figures from the UK housing market illustrate a market which is still blanketed with uncertainty after house price data in December. House price growth for the month totaled 0.5% which is compared with 2.7% in the year prior. Overall, house prices actually fell compared with the month of November. The capital city of London saw a decline in property prices of 0.8% in the last month of the year, bringing the average property price to £466,988, according to Nationwide.

The New Year is off to a running start within the housing market, including all the opinions regarding the future of house prices as they relate to Brexit which is taking place officially on March 29. House prices historically have been tied to a market’s strength and once again the year 2018 demonstrated that this market owns a strong level of resiliency. House prices grew modestly last year and the same is expected this year. Regardless of house price growth, remortgage is still being considered a wise move in the New Year.