Rising inflation is pushing many UK households to turn to purchasing many items with credit cards and obtaining remortgages on their homes simply to afford their current lifestyles. Housing experts are urging those families who are in homes to consider a remortgage if they have not already done so. Interest rates remain at all-time lows and lenders are offering deals with fixed rates which are exceptionally low. Those who are currently on an SVR type loan could possibly switch to a fixed rate deal and save money each and every month on the cost of the mortgage.

The UK housing market mortgage and remortgage sectors are quite active, although mortgage lending is still posting monthly under the six month average, according to the latest Bank of England figures. Remortgage figures remain strong as factors affecting the sector remain favourable for house owners. Interest rates are low and that enables lenders to offer low interest rate deals combined with the ability to lock into a fixed deal. 

London house prices are far behind the rest of the UK in house price growth during the second quarter in recently disclosed data. London has been in the front slot for several years running, but now finds itself trailing far behind, according to recent figures from Nationwide. House price growth is at its weakest growth rate in five years. In the second quarter alone, East Anglia is up more than 4.5% in year on year comparison.

The largest mobile gaming app just got a huge update. People are taking advantage of the summer weather and getting outdoors to hunt down the elusive wild Pokemon in the latest version of the game. Not everyone is looking for the same digital monster nor are they looking for the one with the same move sets, because one single Pokemon isn’t the best for everyone and that is a lot like shopping around for a remortgage.

Along with most other types of lending, gross mortgage lending has been in decline for a little more than a year. Unique economic news coupled with a change in the political scene has created an uncertainty within the UK housing market which is unnoticeable. Remortgage lending switched into high gear following a drop in interest rates at the end of last summer and has not looked back. Those who were on the fence to remortgage have seemingly done so and now the sector is beginning to pull back a bit.

House prices have been one area of the UK housing market very difficult to predict over the past twelve months. Recent political news, coupled with mortgage lending stipulations engaging has made it difficult for many experts to forecast what prices will do next. A chill down of the market has sent prices falling for the last few months which has not pleased current owners or landlords. First time buyers however are feeling quite in favour.