A combination of rising house prices and lack of supply is continuing to keep first time buyers and others locked out of the UK housing market. This makes one who is searching for a legitimate first time property to call home slightly stressed to say the least. This state of relentless searching has led property rentals on an upward trajectory. The property rental sector is at a blistering pace and outpacing sales of property for the first time in several decades.

Although the property market has stalled relative to weeks and months before the historic Brexit vote took place, the remortgage sector within the market is now booming. Experts close to the market agree this is quite a magical time to consider a remortgage for a home.

Interest rates are extremely low and this will likely continue for the foreseeable future. Lenders however are going through a period of heavy competition and are offering many fine deals which include low fixed rates combined with low administration fees.

As house owners are considering the wise move of a remortgage, many young people are searching high and low for suitable property to not only purchase, but rent as another option.

Johnny Morris, research director at Countrywide, commented on the current climate of the UK housing market, saying: “As some would-be buyers and sellers sit on their hands, Brexit-induced uncertainty has continued to boost the rental market … September saw record activity, with increasing numbers of lets agreed and tenants choosing to renew their contracts. On current trends 2017 could be the first time since the 1930s that more homes are let than sold.”