Uncertainty is leading the way in regard to many housing market decisions being placed on hold. Although the likelihood of an hike in interest rates is increasing by the day, many are on the fence as to whether to move home or remortgage with the latter growing in number each month. Some of the more dovish members of the Monetary Policy Committee are leaning towards increasing interest rates, according to some reports. This could mean a hike could take place before the end of the year.

Low interest rates continue to catch the eyes of many house owners, as remortgage valuations race on. The latest data from Connells Survey & Valuation has revealed strong demand for remortgage during the month of August. So much demand is now in play that demand has hit a new high. Home purchasing has migrated in the other direction and is now in heavy decline.

According to one high profile estate agent, London luxury residential property price growth will remain subdued at least until the year 2019. Brexit has created a fragile optimism looking forward, and nowhere is that truer than in the capital city of London. Property prices in the city have been skyrocketing for years, but that is predicted to change until the conclusion of Brexit in the opinion of many close to the housing market.

Experts are warning that there could be a change in interest rates. The Bank of England is expected to counter the problem of inflation being off the target of 2 per cent by increasing the standard base interest rate. Yet, lenders could lead the way by pulling their lowest rate deals and replacing them with higher rates before the Bank ever takes action.

As inflation nears the 3% mark, the Bank of England is preparing for a possible interest rate rise by the beginning of December this year. Such an increase would likely put the brakes on many who are considering a remortgage, but have yet to take the steps to do so. It would affect savers in a much different way and put smiles on many faces that have been saving for years. Housing experts are seeing a much different landscape to mortgage borrowing and remortgaging when the New Year starts in just 90 days.

Homeowners considering a remortgage in the next few months and hopeful home buyers in search of a mortgage are sure to have heard the experts warning of an interest rate hike. The Bank of England is expected to adjust the interest rate to counter current inflation. The Monetary Policy Committee (MPC) has kept the standard base rate at 0.25 per cent since March 2009.