As the gap in time widens from the historic Brexit vote held in June of last year, confidence regarding the UK housing market increases. One area of data which confirms that point can be found in the latest figures of mortgage loans approved from the month of November. The season of autumn not only brought cooler temperatures, but an increase in the number of home purchases. The Bank of England indicates more than 67,500 home loans were approved during the month prior to the last month of the year.

This level of approvals is an eight month high for the market and proves even in challenging times there is room for improvement. Higher taxes which were introduced for second homes and buy to let properties stifled sales for a short time. This sector has quickly rebounded and is now looking up for the upcoming selling season, according to experts close to the market.

August posted slightly over 61,000 approvals which is the lowest figure since the month of February 2015.

The remortgage sector however is continuing its string of strong months. Lenders are offering deals with low interest rates and affordable administrative fees. Home owners in some cases are saving hundreds and thousands off the cost of their monthly mortgage payment. Although the sector has attracted attention in recent months, many are still unaware of the multiple benefits which can be found with the mortgage lending tool.

Jonathan Harris, director of mortgage broker Anderson Harris, commented on the current climate, saying: “It was steady as she goes for the mortgage market in November. While confidence is a little uncertain given potential economic headwinds such as the forthcoming Brexit negotiations, cheap mortgage rates are proving attractive and those who have to get on with the job of moving are continuing to do so.”