In an optimistic report, Rightmove, the online property listing site, forecasted that the UK housing market will see growth in 2017. The level of growth is certainly not at the level seen in the past few years, but in the wake of the Brexit vote and uncertainty in the future impact, growth is a welcomed outcome. According to the Rightmove data, house prices are set to increase in 2017 by 2%.

The November data showed an increase of 5.2% for agreed sales this year over the same month in 2015.

Experts are putting the reasoning of continued growth on the fact that the supply of homes on the market are still below demand and demand is being driven by the continued low interest rates offered by lenders. However, some of the lenders are starting to pull their cheapest deals off of the table.

There are plenty of attractive deals available in both mortgages and remortgages, but they won’t last forever. The years of low interest rates and continued drops in the rates to historical levels has put some in the mind of thinking such cheap borrowing is the new norm. Nothing could be further from the truth, as there are many factors that could quickly change the outlook of lenders and cause them to tighten up on lending and change their offered interest rates.

There are a lot of changes to be seen in the coming year that will press upon the global economy and that in turn will influence the UK lending market.

For those that are contemplating a remortgage or buying property, it could be drawing close to the optimum moment to get the best interest rate along with plenty of incentives such as free legal work and/or free valuations.

Borrowers should keep in mind the lengthier process in securing a remortgage and mortgage when looking at their timetable to begin seriously shopping for a loan. Therefore, beware of waiting too long and missing out on historically low interest rates that could offer substantial savings.