The rush to remortgage may be revving up as data is showing an increase in remortgage lending. The same reason homeowners are expected to remortgage in the coming weeks could also be why first time home buyers are returning to the housing market. The likely reason that most are pushing the effort to borrow is that there are still low interest rates available from lenders. However, there is an expectation that the current rates will disappear into history with more interest rate increases possible this year and next.

As Brexit begins to come closer into focus, the UK housing market continues to change slightly day by day. Mortgage lending provided by lenders of all sizes remains part of this change and remortgage deals are getting sweeter at every turn. Borrowers are finding low interest rates and improved mortgage packages from several different lenders. Competition for mortgage lending is at an intense level and borrowers are benefitting in a major way.

Borrowers coming to the end of their introductory mortgage offer have much to decide going forward. They can allow their loan to switch over to the lender SVR or they can spend a little time in research and choose to remortgage. After some time measuring the pros and cons, many property owners make the choice to remortgage. However, after spending a little time deliberating, many borrowers are still choosing to go with the lender SVR. This could wind up being quite a costly decision according to the latest figures regarding the choice to remortgage or switch over to the SVR.

With the calendar indicating the day of Brexit closing in quickly, many housing experts are urging those who have not remortgaged their property to consider moving on it now. Brexit is now only five weeks away and the window of opportunity to secure a remortgage is closing. Lenders are pressed for time and completing remortgage applications is not a fast process. Although the remortgage application process has been streamlined to move the timeline at a much faster pace, it is still not something which happens overnight.

Uncertainty surrounding Brexit has many house owners riddled with doubt as to what is wise to make decisions about within the UK housing market. Those in the market to buy or sell have been sitting on the fence for several months in anticipation of what could happen at the end of March. Predictions from many upper tier economists have ranged from immediate growth following official Brexit day of March 29 to a potential spiral downward. One thing is certain however, and that is the low level of interest rates which are now available from many lenders on a number of mortgage deals.

For those in limbo about a buying or selling decision within the UK housing market, it is not a pleasant time. It has been difficult for more than 18 months now and is not getting any easier. Brexit is looming. Uncertainty has become a theme which is affecting optimism and forecasting and estimating for the market in the short term as well as the long term. It seems many balls are currently in the air and nobody knows where any will land. The latest predictions for the housing market are not offering much encouragement as well. Although, there is still one thing to believe in and that is the power of a remortgage and its benefits.