Recent data suggests the UK housing market is on quite a high note currently after a slow start to the year. The third quarter was full of activity within the market as buy to let volumes increased almost 25%, house purchases shot up almost 20%, and remortgages surged forward almost 5%. Many close to the housing market expect this type of high octane performance within the market to continue through the rest of the year and into the New Year.

Paul Smee, director general of the CML, commented on the latest data, saying: "The market was a slow starter this year, but this quarter shows it is now firmly on an upward trajectory. With competitive rates and high levels of product choice currently available, alongside generally improving economic conditions, we expect this to continue as we head into the New Year.”

Smee added: "Buy-to-let continues its growth this period, but at 18% of new lending in September remains the fourth largest lending type behind first-time buyers, homemovers and remortgage. There were five times as many house purchase loans to homeowners as buy-to-let landlords in September, and the growth in buy-to-let lending largely continues to reflect its more belated recovery from recession."

The remortgage market is expected to continue with high levels of activity. The certainty of a rise in base rate now hangs in the balance since the conclusion of the latest Bank of England monthly meeting. Inflation is still a moot point and housing price growth has slowed. This has led many to believe the base rate will possibly remain at the current level for several months. House owners are not taking chances however on missing out on a low fixed interest rate product to protect them moving forward.