UK housing mortgage lenders are anxiously awaiting the reaction of the market following the day of Brexit which is set to take place on 29 March of this year. Currently, lenders are quite hesitant about taking on a great deal of risk in the form of mortgage lending, according to those close to the housing market. Over the last three months, lenders have become less tolerant of high risk loans and have denied loans to more last quarter than in the previous quarter.

The current climate of mortgage lending is that of caution. Lenders are exercising extreme care in the number of loans approved and the types of loans. Housing experts see this period as one of careful steps until the outcome of Brexit is realised. The end of the month of March could bring big changes in demand to the market or not, according to housing experts.

Remortgage continues to be quite a strong play at the moment, according to housing specialists. House owners are seeing the New Year actually bring lower interest rates and more incentives.

Lenders are offering low, fixed rate deals on remortgage deals to house owners who seek a more secure future with potentially lower monthly payments.

Uncertainty has cast quite a shadow over the entire housing market for several months dating back to the Brexit vote in 2017. A remortgage provides firmer ground for house owners concerned with cutting costs and moving into the future with more optimism. There are opportunities available currently which were not expected this time last year. Housing experts urge those who are looking for savings to look into remortgage today.