The General Election results left little to the possibility of fewer moments of uncertainty within the UK housing market for now. The Conservative leader, Theresa May lost her majority which means a new government which therefore means time in which leaders will form a new set of plans to move forward. Those new plans will include execution of directives for a housing market which is still locked in uncertainty.

Although many close to the UK housing market feel the election will lead to little more than a bump in the road, there will be required time for the dust to settle. This will include the temporary uncertainty in building new homes; a sensitive spot due to the shortage of homes which now exists.

In the opinions of many experts, remortgage should carry on. Interest rates remain low and house owners are still taking advantage of attractive deals which are being offered by many well-known lenders. Those who were on the fence are now taking the steps towards saving money and relieving stress and burden from a tight family budget.

Nick Leeming, Jackson-Stops & Staff chairman, commented on the latest events which could affect the housing market, saying: “The UK was promised a period of stability but today’s announcement provides anything but at this stage. All markets abhor uncertainty and the housing market is no exception. The priority now must be for politicians to provide reassurance by forming a government as quickly as possible.”

Leeming added: “The housing market has already been the recipient of doom and gloom in the news this week and certainty is now required to inject confidence and increase fluidity across all levels.”