The result of the Brexit vote from last month has created uncertainty within the UK housing market not seen in some time. Housing demand has fallen, remortgage activity is at a high level, and property price growth is fading. Those who are looking to purchase a house currently are seeing a market which is prime for finding an attractive deal. House prices are falling off which has not been a feature of the market for several years.

Martin Ellis of Halifax commented on the latest data concerning house price growth, saying: “There is evidence that the underlying pace of house growth may be easing. House prices in the three months to June were 1.2% higher than in the previous quarter; down from 1.5% in May. The annual rate of growth fell from 9.2% in May to 8.4%; the lowest since July 2015. House prices continue to increase, albeit at a slower rate, but this precedes the EU referendum result, therefore it is far too early to determine any impact since.”

Although house prices have cooled off, the remortgage sector continues to assist many home owners looking to save money on the cost of the monthly mortgage payment. It comes as a major surprise to many who are unaware of the advantages which can be found with a remortgage. It is often a goal of house owners to secure a lower monthly interest rate with a new deal. This subsequently enables a house owner to save money on the mortgage.

It also makes it possible for a house owner to access home equity which is stored, but not typically touched. Remortgage applications can now be completed entirely online with the entire process lasting only a few days.