The days following the historical vote to leave the EU will be quite telling, especially within the UK housing market. Many have estimated slowdown in house sales during the days and weeks ahead followed by a subtle correction which could last months to possibly years. Some estate agents located in the capital city are already forecasting below average end of year profits and lower revenues. Beyond housing sales the remortgage market is expected to potentially see little change. Even though uncertainty is dominating the landscape of housing, the advantages of a remortgage remain the same.

Nic Budden of a large agency located in London commented on the short term impact of Brexit, saying: "While we had a strong start to the year, we said in our first-quarter update that we expected the first half to be challenging ahead of the EU referendum. Since then recent sales volumes have been slow as uncertainty and higher stamp duty has led many buyers and sellers to sit on their hands. The result of the referendum has increased uncertainty and is likely to mean that these trends continue for at least the remainder of the year.”

Budden added: "Looking further ahead, we remain confident of the attractiveness of London property sales markets and our strategy to focus on the outer London mid-market segment. Furthermore, our strong lettings business provides strong downside protection."

With housing sales slumping, remortgages could take off with many house owners choosing to remain in their current residence for the time being. A remortgage can provide owners the ability to secure a lower interest rate along with access to home equity which currently could be more valuable than usual.