Summer is considered the peak of the selling season in the UK housing market. This held true for the year 2017 amid a market which was considered uncertain.  Experts are now concerned about the number of mortgage approvals during the month of December last year. The total for mortgage approvals last month hit 36,115. This is the lowest number of mortgage approvals in a month since April of 2013. This is also 8,000 fewer approvals compared with the month prior in November.

There are several factors which influence opinions regarding the strength of the housing market. House price growth is one of them and another is the number of mortgage approvals. Experts predicted mortgage lending to slow in the month as it typically does. The holiday season is in full swing and major decisions concerning moving home are usually placed on the shelf.

Some housing specialists feel the loss of volume in mortgage approvals is due to the hike in the standard base rate which took place in the month of November. That, combined with an elevated inflation rate, has put the squeeze on many household budgets and made it impossible to consider any major housing moves.

Many households which are still feeling financial burden could be pulled out of such a condition potentially through remortgage. Many have found solace through this once little known mortgage lending tool.

Interest rates remain low and lenders are offering deals which are quite competitive with each other. There are deals featuring many combinations of benefits and there is likely a match to most financial situations. Applying is simple and can be done entirely online.