The latest figures disclosed by the Bank of England support the idea of high demand remaining for mortgage and remortgage lending. Uncertainty regarding the near future has not stopped those in search of property from obtaining it. Programmes offered by the government which assist first time buyers are continuing to feed the appetite for those looking to reach the first rung of the property ladder. Low interest rates are still an attractive draw as well.

Data from the Bank of England recently has painted an optimistic picture regarding the resiliency of the UK housing market. Both mortgage and remortgage lending increased during the month of January. Approvals of mortgages for the month totaled 67,478 and remortgages 49,242. Annual growth for secured lending remains at 3.3%.

Housing experts believe the same amount of activity will likely continue unless Brexit negotiations conclude and release the pressure of uncertainty which is holding many back from buying or selling property with confidence.

House owners seeking lower payments on the monthly mortgage are still finding deals which make them able to save through lower interest rates. The central bank increased the standard base rate in November to 0.5% which increased lending rates, but that has not stopped many from securing fixed rate deals with great benefits. On top of saving money each month, many have found big value in the form of accessing cash sitting idle as home equity. This money is being used for home renovations, paying off old debt, and taking holidays. Experts are urging those who have not remortgaged yet to consider it before another possible rate hike.