Total number of mortgage approvals fell in the month of December last year prompting many housing experts to feel concern for what is to come. Many see the market stagnant this year following a year in 2017 which included new tax laws, a rise in inflation, and overall uncertainty about the future with Brexit. Although house owners feel anxious about what is possibly coming, there is still a possible exit door for many financial stresses. That door is potentially as close as a remortgage.

Summer is considered the peak of the selling season in the UK housing market. This held true for the year 2017 amid a market which was considered uncertain.  Experts are now concerned about the number of mortgage approvals during the month of December last year. The total for mortgage approvals last month hit 36,115. This is the lowest number of mortgage approvals in a month since April of 2013. This is also 8,000 fewer approvals compared with the month prior in November.

There are a number of factors coming together in the UK that could be forming a great environment for hopeful home buyers to purchase a property. Those selling houses are becoming more assertive in pricing their homes to grab attention. Lenders are continuing in a competitive market and are putting out attractive deals for both home buyers seeking mortgages and homeowners seeking remortgages. There is also the fact that first time buyers could take advantage of a stamp duty benefit to help save money.

Home owners are in constant search of ways and processes to save money. Whether that is finding a shorter route to work in the car, or implementing a new diet plan to cut calories and therefore eat less. There are numerous ways in which to save each month. Cutting the amount we pay each month for repayment on the house mortgage is typically not one of them. Remortgage has changed thinking for millions of Brits and has surfaced as a real way to cut cost. The question for many after deciding on remortgage is which rate type is better, fixed or variable?

Prior to the onslaught of the holiday demands hopeful home buyers closed deals and pushed up the average annual house price for the year to November. According to the latest data from HM Land Registry and Office for National Statistics (ONS), there was an increase of 5.1% to £226,071. The annual growth rate slowed from the middle of 2016, but remained relatively steady and around 5% during 2017.

The holiday season brings out the best of us as well as some shopping habits which are not the best of us. Overspending is not uncommon during the fourth quarter of the year. Stretching our financial selves at holiday time can sometimes set us up for a tough start to the New Year. Credit card repayments can sock it to us in January and that is when cost savings in other areas must be researched. It is the perfect time to consider a remortgage.