Recently released UK housing market data from the month of March indicates there is a cooling off trend occurring. Available houses for sale are now averaging around 43 per real estate branch, according to the latest figures from the Royal Institution of Chartered Surveyors. Since the triggering of Article 50 a bit of uncertainty has surged within the market and that has resulted in lower amounts of activity in many sectors.

The report continued to say home buyer inquiries are now flat for the third month running. This has prompted surveyors to ease off sales growth forecasts.

Remortgage is holding its own and remains one of the stronger sectors currently. Lenders are staying on course to offer attractive deals to house owners looking for ways to cut monthly costs. Cutting the mortgage payment is without a doubt a solid way to save money. Some house owners are seeing house payments which are hundreds less after obtaining a remortgage.

For years, remortgage was an infrequently turned to mortgage lending product for house owners. This has changed in recent years due to low interest rates and flexible deals. House owners are now considering a remortgage faster than many other options, and coming away with massive results in many instances.

Simon Rubinsohn of RICS commented on the survey results, saying: “The latest results for the RICS survey show little change in the underlying picture surrounding both sales and markets.”

The RICS report continued: “Prices in central London have progressively deteriorated and at negative 49 per cent, the net balance was the weakest since 2009.”