According to the Royal Institution of Chartered Surveyors, the housing market stumbled through to the end of last year and is not starting 2017 as strong as possible. Housing sales began falling off during Q4, thus creating more speculation about the coming months. Many estate agents doubt the possible strength of the market and have pulled back from any hawkish forecasts. One sector however remains quite strong and estimates for high levels of activity continue. That sector is remortgage.

A recent study of the remortgage sector within the UK housing market has uncovered some refreshing data for all who are considering such a move. Quarter 3 of last year proved to be not just a stellar quarter, but also one which was quite surprising by all accounts, according to those close to the market. Following close behind the Brexit vote which took place in June and a new tax surcharge of second and third properties, the remortgage sector should not have been on fire, but it was according to data from the Intermediary Mortgage Lending Association.

This year is shaping up to be one of heavy speculation within the UK housing market. The blueprints for the UK leaving the EU have now been laid out and that leaves many considering moving home with questions. Is this the best time to search for a new residence or think about remortgage? Many experts currently are suggesting there is no better time to exercise the option of a remortgage.

Recent reports from the National Audit Office are painting a dismal picture of housing supply for the coming years. According to the latest news from the Office, the shortage of housing crisis is likely to be an issue for the foreseeable future. It clearly has no definitive end in sight. During the span of 2011 to 2021, projected new homes constructed each year numbered almost 230,000. That figure, so far, has been cut to only 166,000 homes per year. 

According to some brokers close to the UK housing market, mortgage deals are now featuring interest rates which are creeping upwards. Fixed rate deals are now starting to have larger interest rates attached to them which has begun just in the last few weeks. Borrowing rates between banks is increasing, therefore having an effect on the cost of mortgage lending. Some housing market experts are now suggesting those home owners who are on the fence regarding a remortgage consider acting sooner compared with later.

Potential buyers put their decisions to purchase on hold during the month of December as the UK housing market began to show cracks on the surface, according to data from the Royal Institution of Chartered Surveyors. In its latest monthly survey, the number of new property buyers actually increased as the shortage of available property for sale remained constant. This continues the unbalance of supply and demand which has existed in the market for months and appears quite likely to continue for months to come, according to those close to the market.