House prices have been one area of the UK housing market very difficult to predict over the past twelve months. Recent political news, coupled with mortgage lending stipulations engaging has made it difficult for many experts to forecast what prices will do next. A chill down of the market has sent prices falling for the last few months which has not pleased current owners or landlords. First time buyers however are feeling quite in favour.

First time buyers are constantly looking up when searching for their first flat. If the down payment on the property does not stop them in their tracks, the lending criteria surely will. With house prices falling in such a way currently seen, first timers could be finding some relief with the overwhelming of cost.

Lending criteria has been overhauled in the past twelve months which in some ways has hurt opportunities for first timers. Lenders must be stricter and take fewer risks, making the mortgage lending sector as harmless for the market has possible. More risk means greater potential damage done to the economy in general.

As first timers are the base of the housing market, an increase in the number of them acquiring houses is a positive step in the minds of many experts. Even though the strength of the housing market is often determined by rising or falling house prices, first timers purchasing property will likely help the market overall in many opinions.

Outside of first time buyers, one sector which continues at a high degree of activity is the remortgage market. Current home owners are finding cost savings by lowering their monthly mortgage payment amount. Low interest rates combined with aggressive administration fees are making it quite favourable for borrowers to save money.