The UK housing market house affordability has recently increased for those looking to purchase a property. Housing prices have declined lately, bringing in a new wave of buyers who are now being able to afford a rung on the property ladder. According to the latest data from Rightmove, London is seeing the lowest amount of house price growth for five years. The East Midlands, Yorkshire, and the northeast are offsetting this by experiencing price increases.

Houseowners are constantly in search of any way possible to save a pound. Some are lowering their energy intake, or installing new weather proofing measures for this winter. Some are even closely examining the amount of food intake and how to lower the weekly grocery bill. There are many ways to cut items from the monthly budget, but few are considering one which could be the most obvious of all – remortgage.

Homeowners and hopeful home buyers in the UK will have been surprised to see that the average house price increased last month despite an expectation of a decline. The housing market continues to outperform forecasts due to several factors according to experts. The strong employment growth, a shortage of properties on the market, and continued low interest rates are creating an environment in which the unexpected keeps occurring.

Thousands of houseowners will be watching as their current mortgage lending deal matures this autumn. The next step in the process is often saturated with stress and burden deciding which deal is best and most fitting to each particular financial situation. One thing which is currently leaning in the direction of all borrowers is the amount of lender competition which exists. It is now a borrowers’ market.

Autumn is upon us and with that are several thousand household mortgages which are set to mature. Many SVR types will complete their run as a one, two, or maybe even three year mortgage. The time has come to decide upon another variable product or switch to a potentially big money saving fixed remortgage product. Experts are predicting massive numbers of households transitioning to a remortgage for several reasons.

Homeowners across the country have been ramping up in numbers over the course of this year and are turning to remortgage in search of possible savings and security for the future. Interest rates are currently holding steady and even being lowered by many lenders as the year comes to a close. Inflation has slowed a bit and many are seeing remortgage as a way to cope with rising costs and lowering the monthly mortgage payment is one way to do it.