The referendum has created a climate of concern within the UK housing market not seen in some time. Buyer interest in homes on the market has reached a level not seen since the year 2008. This translates into quite a long correction period, according to many close to the market. Some are talking about a correction taking not just months, but possibly years. One thing is clear. The short term overall health of the market could erode instead of grow stronger.

According to the Royal Institute of Chartered Surveyors, it is currently quite the challenge to find a strong point of the housing market. House sales are falling along with general interest in houses for sale on the market. House price growth is slowing. Overall, many are concerned about the fundamentals which keep the housing market propped up.

Along with the housing market, there is now serious talk about the base rate being lowered by 0.25% to 0.25%. This will represent a major change in interest rates which have not gone through change in several years. With the interest rate adjustment, savers are now concerned about the possibility of earning anything from placing funds into savings accounts.

One bright spot remains within the housing market. That bright spot is remortgage and the possibilities it still carries for all home owners. Many are taking advantage of low interest rates along with the ability to secure a lower monthly mortgage payment. House owners are also making use of home equity which becomes available to them through the process of home remortgage and the promise it holds of a brighter financial future.