Although Brexit has created a cloud of uncertainty hanging over the UK housing market, a recent Zoopla survey indicates house owners are quite optimistic about rising home values. The recently released data says many do not expect house prices to fall in the coming months. This makes those seeking a remortgage feel more positive about the upcoming summer selling season as well. Overall, confidence in the property market is increasing as the weeks creep by and the warm months of summer approach.

Home owners in the West Midlands are feeling more secure about the upcoming months. The majority participating in the survey indicated on average they feel their property will increase in value more than 10.5% over the next six months.

Overall, property owners expect at least a 6.5% increase in value to take place in the next six months. Only 8% of home owners expect a fall in property value and 7% are expecting property values to remain at their current level.

This information is increasing optimism also for those seeking remortgage in the coming months. Increase in property value equates to potentially more cash available during the process of obtaining a new mortgage lending deal.

Remortgage activity is expected to remain high through the end of the year. Uncertainty has led to a record number of home owners deciding to remortgage during the first quarter of the year and housing experts expect that demand to continue. With wage growth struggling to reach next level and an ongoing housing shortage, remortgage is suggested for those looking to potentially save money on monthly outgoings.