Recent figures regarding remortgage activity as well as other mortgage lending highlights the number of loans which matured earlier this year – especially during the summer months. The latest data from UK Finance indicates all mortgage lending has slowed. The month of September posted figures lower than a year ago. Residential remortgages numbered 35,600 and buy to let remortgages totaled 12,300. These figures are lower by 0.6 and 0.8 percentage points lower than the year prior.

After a period of strong growth over the past twelve months, mortgage lending is considered leveled out now as the year comes to an end. In the opinion of several housing experts, this growth was the result of deals maturing and new deals obtained.

Brexit uncertainty and off-season months are upon us leading to lower amounts of activity in all types of lending. Housing experts expect lower amounts of lending to dominate the housing industry for the months leading up to Brexit. A no-deal Brexit could result in housing market shakeup unpredictable by any housing authorities.

Jackie Bennett, director of mortgages at UK Finance, commented on the latest lending figures to surface, saying: "Demand for house purchases for both first-time buyers and homemovers has also lessened, as affordability constraints continue to bear down on consumer demand for new loans particularly in London and the south east."

Remortgage lending currently has slowed, but lenders are pushing through until the end of the year. House owners are finding low interest rates combined with numerous incentives which are making it possible for most to save money which leads to immediate impact on their financial situations.