Remortgage and mortgage lending trends may be changing in the months ahead. Many factors including the end of the election will be luring buyers back to the housing market and the result will be a boost in the mortgage lending market as well. How much the boost will benefit lenders is yet to be seen, but it could be enough to lift them from their current competitive mode of offering record low interest rates.

According to the data from the Land Registry which records sales, house prices declined by 0.8% in March. The average house price according to their latest data is £178,007. While the month to month comparison may have resulted in a slight decline, in a year to year comparison, the average house price is 5.3% higher than it was last March.

London continues to have a strong influence on the national average as 30 of 32 London boroughs had double-digit price growth in the past year. The south-east borough of Newham showed the largest increase of 19.8%.

The housing market is showing signs of a possible boost with more interest being shown by home shoppers. Once spring weather sets in there is a usual boost as consumers seek change and buyers are expected to grow even more optimistic as more signs are pointing to continued UK economic growth.

For those homeowners hoping to secure one of the low interest remortgage deals currently being offered, it would do well to remember that processing now takes longer due to new regulations in place for lenders to gather more information from their customers. Shopping for a new deal with plenty of time on hand will make the process less stressful and offer the best chance for finding the right deal for their unique needs.