As fast as the UK housing market uncertainty reached a feverish pace immediately following the Brexit vote, it has settled. Many conveyancers are reporting many deals which had been placed on hold following the referendum are now going through. According to many brokers, estate agents, buyers, and sellers, the market is back to the days before the vote took place on June 23^rd.

Housing sales transactions are proceeding through the normal steps, whilst houses are going on the market for sale once again.

The remortgage market has been an exception to other sectors within the market during this transition period. It has maintained its high level of strength and activity for months now and the momentum seems like it will continue according to many close to the housing market.

Interest rates remain quite low and could even drift lower according to Mark Carney of the Bank of England. Lenders are taking care of house owners looking for a lower monthly mortgage payment. They are offering low to zero cost for the administration of a remortgage currently.

The sales of many houses are jumping back on track according to Paul Smith of Haart estate agents. He commented on the response of the buying market following Brexit.

Smith said: “About a week after the decision, we’re starting to see the market settle and confidence returning.”

“The result has had no impact on website traffic or applicant figures; in fact the outcome may be resulting in opportunist buyers taking advantage of the situation by snapping up bargains caused by the uncertainty.”