The UK housing market has sustained many challenges in its past and Brexit negotiations are proving once again that the market can be resilient and carry on. Many housing experts see the negotiations as the stumbling block to growth currently resulting in uncertainty and questions about what direction the market is heading. Many sectors continue to flourish, although housing price growth has cooled off considerably.

Remortgage as a percentage of total mortgage lending has risen recently to extreme heights. Homeowners are still finding quite favourable deals from lenders who are still offering mortgage packages with low interest rates and competitive closing fees. Landlords are now acting on an increased number of buy to let remortgages before lending criteria changes. The Bank of England is attempting to cool the engines on the number of buy to let purchases which are now taking place.

Expectations within the capital city of London have eased a bit regarding housing market activity with many reasons to blame. Political uncertainty, increased level of inflation, tax changes, and Brexit have all combined to take its toll on a market which had enough steam to carry it on for months. Now, the market has softened, demand for housing has slowed down, and optimism does not ride as high as it did just a few months ago.

Although waters have calmed a bit within the UK housing market, there are stark new reports of a lack of growth of house prices over the next several months, according to the latest released market data. Figures forecasted from Countrywide suggest house prices will drastically fall from the 5% growth which took place last year down to an estimated 1.5% for the total of this year. Many house owners have benefitted from soaring house price growth during the last few years, at the same time first time house buyers have seen increasing difficult affording their first property.

Remortgage activity has surged this year in a continuation from last year when the base rate fell even further to a record-low level of 0.25%. Homeowner after homeowner has taken advantage of the low interest rate and found a remortgage product which best suited them in order to save money on the cost of the monthly mortgage. On the surface, it is easy to think of only the by-product of a remortgage which is highlighted typically by a lower mortgage payment. But what about fees associated with the remortgage process?

The summer selling season is winding down and that means one thing – a potential lull in the housing market. Children are going back to school and house hunters are putting away their lists of pros and cons for their next dwelling. The remortgage market seems to slow a bit typically, but experts believe this year could be different. This year could be different due to several reasons, but interest rate level is one of the primary ones.