The challenge of purchasing a property for first time buyers is leading to tough times for many UK millennials looking to grab a spot on the housing ladder. The numbers paint quite the clear picture for those looking to buy their first residence. UK average house prices are increasing at 7.5% and income is growing at under 2%. All this adds up to relying on the bank of Mum and Dad and other family members for a deposit, or just saving and waiting.

A recent report indicates UK house price growth will explode following a couple years of Brexit negotiations. This is quite favourable news for house owners sitting on the fence currently about whether or not to sell a property now or wait until later. By the year 2021, house prices are expected to increase in value by an estimated 24% over today’s prices. For the average home, this is a £52,000 surge in price.

Last year proved to be an active year for the UK housing market. Uncertainty was primarily the feeling throughout the market with many experts not conclusively estimating the next move of the market. A drop in the interest rate kept many house members thinking positively about the possibility of a remortgage. Home construction on the other hand remains behind projections for improvement in the massive shortage which continues to plague the market.

According to mortgage lending brokers across the country, accessibility to funds specific to purchasing property is becoming easier for those in search of funding for a residence. Since lending criteria became more difficult in the middle of 2014 with the Market Review, house hunters have traveled peaks and valleys in search of mortgage lending. Lending is more available now than it has ever been during the last three years, according to data from the Intermediary Mortgage Lenders Association.

As Article 50 is triggered, there is growing uncertainty within the UK housing market. Within the last few weeks inflation as well as other factors have led to fewer transactions occurring within the market, including property purchases, according to housing experts. Major purchases appear to be placed on hold by many concerned with what the short term future within the market looks like.

There is brilliance in planning and nothing can make a holiday fit into a budget with ease better than planning. It may have just turned spring, but it’s time to be thinking ahead of summer if you have wanderlust. Homeowners are discovering that perhaps now is the best time ever to take advantage of a remortgage and finance the holiday of their dreams.