Weather is changing rapidly in the UK and along with it, the climate of the UK housing market. The market now undoubtedly favors those in search of mortgage lending and for a variety of reasons. The main reason found by some close to the housing market is the drive to reach lending targets. Many lenders have made the decision, especially in the last few days, to keep interest rates unchanged on many of the more popular lending deals.

The competition for borrowers is on within the UK housing market and everyone is coming out swinging. During a recent Bank of England monthly meeting of the Monetary Policy Committee, the vote was made to keep the standard base rate at the level of 0.75%. This past August the rate was increased from 0.5% to the current rate of 0.75%. From the outside of the market looking in, many housing experts are urging borrowers to take advantage of the current trend and think about mortgage lending.

Some lending experts are also urging borrowers to consider what could transpire in the coming months leading into and following the official Brexit date.

Experts see the months ahead as some of the most difficult to forecast in relation to growth, trends, and especially interest rates. Some believe there will possibly be interest rate increases and a high amount of growth in many sectors. Others see extra breaths needed to continue and a collective pause in the action will take place in many sectors.

Regardless of the outcome of Brexit negotiations, housing experts see this time as a borrower market and one which should be taken advantage of if possible.