Home owners have new information available to them in regard to how much a remortgage can change the complexion of a family budget. The mortgage lending tool has gained popularity in recent years and is now at the top of many lists as the most effective way to save money each month. Remortgage transaction numbers are rising and new data is confirmation. Approvals increased almost 10% month on month from March to April.

Homeowners that have been sitting on the fence, waiting to see if a remortgage could be helpful, have only to look at the lending market to get an answer. Lenders are releasing perhaps the last of the really great remortgage deals because it’s quite a stretch to consider how much better they could actually get. Long terms, fixed historic level low rates, and even incentives added to sweeten the deal.

The housing market has been resilient in the wake of the Brexit vote last year. Housing prices were expected by experts to fall dramatically, yet buyers remained in the market. The low interest prices were thought to be the reason as lenders kept mortgage offers at historical levels.

Possible impact on the UK housing market due to the results of the general election is now in speculation mode as many are in a game of wait and see. Many homeowners looking to sell could put a hold on their plans and similarly buyers looking to purchase their next property could do the same, according to housing experts. It is possible there will be no change at all, according to others.

The General Election results left little to the possibility of fewer moments of uncertainty within the UK housing market for now. The Conservative leader, Theresa May lost her majority which means a new government which therefore means time in which leaders will form a new set of plans to move forward. Those new plans will include execution of directives for a housing market which is still locked in uncertainty.

There is a noticeable chill in the air surrounding the UK housing market and many experts are pointing the finger at the snap general election. House sales have now fallen two months in a row which is quite an oddity. House price growth is in negative territory overall on average. Rental property prices are also falling year on year. These are not normal occurrences for a housing market which has been boasting strong fundamentals for years.