Uncertainty remains quite a common topic within the UK housing market and will likely remain popular until Brexit is here and completed sometime next year. Since the selling season has come to an end and the weather has taken its natural step into the next season, transactions have fallen off. There has even been a decline in a great amount of mortgage lending, especially remortgage. One sector which is growing stronger each day is residential construction and home registrations.

Every house owner who secured lending for their residence will at some point reach the day of maturity for that lending. At that time they can elect to go with their lender standard variable rate lending option or seek remortgage and nail down a fixed rate loan.  This period is simply part of the home owner process, but can be overwhelming for some who are not experienced in securing loans on a regular basis.

Brexit uncertainty has been relentless on the optimism level within the UK housing market. In the time since the Brexit vote, London property values have headed south and not diverted course as many have moved out of the capital city. Property values have suffered as well as opinions that it will bounce back very soon. Now, there is new evidence bounce back in property value will take place in London as well as areas just outside the capital.

Help to Buy loans issued and supported as a government scheme started five years ago. This new way of assisting home buyers purchase their property was considered a win for those who needed a little help in buying that first home a half decade ago. Now, fast forward five years and the interest payments on those Help to Buy equity loans are starting to escalate leaving many house owners searching for a remortgage for relief. There has been difficulty finding a suitable remortgage to ease the pressure of rising interest rate payments from lenders, until now.

New tax laws for buy to let property in the books include not being able to take the mortgage interest paid as tax relief for the year. The end of the year is closing in and the month of January is not far behind. Those owning buy to let property will soon be paying their taxes for the year 2018. The new law which affects landlords with the ability to find relief from mortgage interest paid has led many to seek lower interest rates on the mortgage repayments they are making each month. This has led to a massive increase in the amount of landlords remortgaging their property in 2018.

The latest figures from the Bank of England indicate mortgage lending remained consistent month on month in September and were unchanged. The annual growth rate for gross mortgage lending remained at 3.2%. House purchase approvals came in at 65,000 which was also unchanged from the month prior. Remortgage however, continues to be on a hot streak and demonstrated robust activity. House owners obtained remortgages during the month and totaled 49,000. Remortgages totaled 53,125 in the month of August.