The year of 2016 has been a memorable one. Historic events have been pervasive across the globe and nowhere have they made more of an impact than in the UK with the Brexit vote held in June. The vote sent shockwaves through the country, not to mention all of our neighbors to the East of us. The UK housing market was most affected though, and more uncertainty is on tap starting the year of 2017.

The housing market holds much uncertainty going into the New Year, according to many experts close to it. One sector however is being viewed as one to carry on similar to its current form. That sector is the remortgage sector. Interest rates remain at extremely low levels and lenders remain quite competitive going into 2017.

House owners are reaping all the rewards. Low interest rates mean monthly mortgage payments are sometimes being cut in half compared with the original mortgage terms. Valuable home equity is also something which is being accessed in massive amounts.

The New Year holds much uncertainty for the UK housing market. Experts agree however that now is a favourable period to consider a remortgage.

Estate agents are looking at the New Year with anticipation, along with some angst. The fresh start could be just what the market needs.

Jake Russell, director at Russell Simpson estate agency commented on the coming year, saying: “Much like 2014, 2015 and 2016, the UK will begin the new year with an opaque and uncertain future ahead.”

Russell added: “As with the Scottish referendum, the general election and the EU referendum, the forthcoming year will be dominated by yet another landmark political event in the triggering of Article 50. As with any trading market, uncertainty breeds caution and indecision, and as such we can expect continued low levels of activity.”