The Brexit vote widely affected many areas of the UK housing market. The most affected areas were London and the surrounding regions. Many building projects have begun outside the city limits and this, combined with sustained demand for property outside the city of London, has left much of the rest of the UK unscathed regarding housing issues.

According to recently released data, the housing market outside the city limits of London has been predominantly untouched by the Brexit vote. Many reasons have contributed to this, but one factor is the high prices property in London still commands. Most citizens are unable to afford property within the city limits, so many areas outside the city are considered first.

As housing in areas outside the capital city has remained resilient to the historic Brexit vote, one sector the market has exploded in recent months.

Low interest rates partnered with lender competition has resulted in many house owners taking advantage of the financial tool remortgage. They are obtaining remortgages in droves and the deluge of new remortgage clients seems to be quite strong.

Many house owners are just realising the many benefits which come with a home remortgage. In addition to a lower monthly mortgage payment, house owners are accessing valuable home equity which can be quite useful for this time of year. Lenders are offering extremely low interest rates with fixed rate products as well as low administration fees.

The housing market outside the city of London will likely remain in its current state, according to experts in and around the market. Those in search of a lower monthly mortgage payment will also likely continue finding it in a remortgage.