UK house prices have been in an inconsistent run over the past several months with the addition of uncertainty created by the Brexit vote and subsequent negotiations which have yet to be wrapped up. Some areas of the country are carrying on with month on month and year on year growth, but the majority of regions have seen pricing sitting idle or at the very most moving moderately.

A focus has been put upon the housing market. It is being considered that there should be a faster and less stressful process to buying a property. A review has been initiated by Communities Secretary Sajid Javid to get feedback from those in the housing market industry as to how to make buying a home more efficient and how to stop the act of “gazumping.”

Time could be running out for many houseowners to grab a lower rate deal, according to many housing experts. Lenders have begun pulling their best rate deals in preparation for what is expected to be a rise in the country’s base rate. The current rate is at a historical low 0.25% and many expect the rate to increase to at least 0.5%. This could mean an increase of several pounds on the current cost of the monthly mortgage payment.

The UK housing market continues to face a massive issue within the capital city limits and beyond according to the latest data. By the year 2020, the issue of shortage of housing is expected to reach its peak in many areas creating a serious problem for many. This problem is constantly being worked on by the government, but many close to the housing market think the issue will persist. Some are making living arrangements in tiny houses known as townflats.

UK homeowners with mortgages maturing in the coming weeks will be possibly faced with a dilemma. Interest rates are potentially rising during the month of November, according to the Bank of England. This leaves property owners facing a difficult situation. Opting out of a deal prior to maturation could bring with it high fees for exiting. But locking into a new deal through remortgage could save hundreds off the cost of the monthly mortgage immediately. Attractive deals with low interest rates are here now, but how long will they last?

There is a growing warning that the Bank of England is closer to increasing the standard base interest rate than ever before. Despite the need of the Monetary Policy Committee (MPC) to increase the rate to stabilize the economy, there might be a side effect that could be devastating. According to new data released by the Financial Conduct Authority (FCA) half of the population is financially vulnerable to an interest rate increase and one in six people will be completely unable to deal with only an increase of £50 to their monthly budget.