The mortgage lending market may be experiencing a slow down due to caution setting in with home buyers as the Brexit deadline nears. Home buyers have been staying focused on the opportunity to get onto the property ladder, and that has had the housing market performing better than expected by many experts. Yet, caution could have started setting in and future mortgage demand data could reveal that home buyers are stepping back from purchasing as the Brexit deadline nears.

However, homeowners will likely keep the mortgage lending market stimulated. There are a very large number of homeowners that are due to have their mortgage deal end in October and November. Rather than be put on their lender’s risky standard variable rate (SVR), a remortgage could give peace of mind and offer a substantial savings for many homeowners.

Skipping out on a remortgage and being put onto a SVR could have been less risky and offered an acceptable interest rate not long ago, but for those homeowners that mortgaged two or more years ago, a SVR could be double or more the interest rate level than what the homeowner is used to paying.

Rather than paying more in repayments than necessary, a homeowner is encouraged to shop around for remortgages and discover the savings available. There are very attractive deals being offered and with the uncertainty of Brexit hanging like a dark cloud over the economy, certainty in a remortgage could offer peace of mind.

Perhaps mortgage lending will slow as home buyers step back from the market due to Brexit induced caution, but homeowners have much to gain by staying focused on opportunity from lenders to save money and their focus will likely give a boost to the lending market throughout the rest of the year.