Summer is typically time for activity to be in full swing within the UK housing market. Sellers spend many months prior to this time of year in preparation of buyers swooping in and purchasing their home in no time flat. This summer however, appears different already with activity slowing and demand falling before it gets into high gear. Experts see this as a market in decline, but one sector remains full of possibilities – remortgage.

The amount of remortgage activity taking place during the last several months has been quite impressive, and conditions have supported such behaviour. House owners are finding attractive deals with most lenders and have been finding them for months. Low interest rates and the ability to obtain a longer fixed rate term length mortgage loan have been an easy choice to make for many. May proved once again that conditions were right to remortgage by posting a large gain in approvals.

Remortgage lending is very popular right now as more homeowners are taking advantage of the opportunities available to them. That means lenders are competitive for the attention of the homeowners shopping for a deal and while that is great for the shopper it can be confusing as well. 

The UK market has seen quite a mix of economic issues spotlighted during the last few months greatly affecting housing and those close to it or attempting to make a move within it. House owners are still finding great advantages to obtaining a remortgage, but first time buyers looking to reach the first rung on the property ladder are searching for answers to high deposits and weak wage growth.

Housing market house prices have taken more than a bumpy journey this year to arrive to the point where they now have settled. Political changes loom, new taxes are taking effect on second and third properties, and inflation is causing a new process of purchasing personal belongings. There now exists a new outlook within the housing market and much of it swirls in uncertainty. Forecasting house price growth and selling a property within the city limits of London have now become quite a challenge.

UK house price growth has been through tumultuous times over the last twelve months. Prior to the last year however, house price growth across the country has been quite impressive with double digit gains during most months with the capital city leading the way in most instances. The housing market has seen change occur since the beginning of the year, and not modest change. House prices fell without warning in the month of June bringing the annual rate of growth to the lowest point in four years.