There have been less than optimistic forecasts on whether the housing market will be able to hold on to the resilience it has demonstrated since the Brexit vote. Many doubt that as the Brexit deadline of 31 October draws near and afterwards that borrowers will be as motivated to climb the property ladder with uncertainty surrounding the economy. However, those that are naysayers may not be considering the opportunities that are turning out to be too good to ignore for those considering becoming homeowners.

Mortgage and remortgage lenders are very competitive. To gain the attention of borrowers better deals are being offered and some include very long terms such as the one offered by Virgin Bank which offers a 30 year term mortgage. There are longer terms and lower interest rates, with some lenders having released historically low mortgage interest rates that they have never offered previously.

Along with the attractive mortgage deals, home buyers have lower asking prices to consider. There might be a low inventory of homes on the market, but rather than it being a seller’s market it has turned into a buyer’s market. Sellers have made it so by becoming anxious to gain a buyer for their property before Brexit. Asking prices have dropped and the market itself has seen declines in some areas, which in turn, makes the properties more affordable to those that may have been out of reach previously.

Some believe that consumers are going to become more cautious and they will exit the housing market in large numbers. However, perhaps consumers are tired of the doom and gloom forecasts for the overall economy and are going to take action on a more individualized level. In other words, they will be more likely to move toward unusual opportunities before they disappear and attain their dream of being homeowners come Brexit or not.