The latest figures indicate the UK housing market is not quite as easy to break into as many have estimated.  First time potential house shoppers will need an estimated £40,000 to make any mortgage affordable.  February brought out only those potential house buyers who could afford an average of almost £120,000 total house price.  This house price is quite a stretch for those first time house buyers due to the national average salary being only £26,500.

Consumer confidence in the UK housing market has enabled two things to happen.  First, those potential house owners searching for a house believed the future was bright enough to own a house, so many couples applied for a mortgage.  And second, those first timers are in a race against time as property continues to increase in cost.

According to the Council of Mortgage Lenders, the number of young potential house owners applying for mortgages has taken off over the course of the last twelve months.

In February alone, more than 21,000 mortgage loans were obtained by house owners aged around 30.  This is an increase of more than 40% compared with this time last year.  Government schemes have enabled more house owners to take advantage of an interest rate which has yet to change in years now.

Remortgages continue to be a smart option for any UK house owner.  Many favourable products are available from lenders to help house owners move forward in the battle to improve a family budget bottom line.  Remortgages are obtainable online at any time.