Many with knowledge of the UK housing market expected a period of less activity whilst the general election took place. Following the election, the market bounced back slightly, but not as much as expected. Original mortgage loans as well as remortgages slowed down and have not taken off for the year. Housing market experts do not expect this trend to continue.

The general election caused many with housing decisions to put them on hold or cancel them completely creating a slowdown within the market. Economists and other experts expected this lull in activity, especially with contradicting ideas about how to offer solutions to a housing market with several problems. The correction, or bounce back has yet to fully happen, but many expect the selling season to begin as the summer months bring warmer temperatures.

Remortgage activity picked up during the month of May, along with the number of original mortgage loans. Lenders are still in heavy competition with each other due to low interest rates and low unemployment.

Those sitting on the fence with decisions hanging in the balance should start moving, and that will create a new round of competition among lenders.

Remortgages remain an untapped resource for many who happen to be house owners. There are many benefits which are not always obvious to those who do not know about them. One of the biggest benefits is the ability to obtain a lower monthly mortgage payment. Opportunity to free up some cash out of the equity built up in the house is also possible.

A remortgage is quite a popular way to improve the bottom line of any household financial status. Applying is as easy as jumping online and filling out an application.