Due to the soaring cost of home ownership in the UK during the past thirty years, the UK remortgage market could go through some serious down time.  Over the last three decades the housing market has seen exploding housing costs and that has left many potential young homeowners on the outside of the market looking in.  Recent data has shown the majority of UK homeowners will be absent of a home mortgage within thirty-six months.

An increase in the average price of a home accompanied by the continued inability of young people to afford a deposit due to inflation or simply a lack of higher income is leading to lower numbers of home owners.  This is especially true due to the increase in housing taking place over the last thirty years.  The end result will be more noticeable as the year 2015 creeps towards us.  The home buyers of the 60s, 70s and 80s will be realizing great financial freedom at that time.

The spike in complete home ownership is also being assisted by the historically low interest rate homeowners are currently paying in addition to the principal within their home mortgage payment.  The benefit of remortgages which are continuing today will be looked back on with many smiling faces.  As more homeowners remortgage and realize savings on their monthly mortgage payment, the real benefits of a remortgage can be brought to the surface once again.

Although remortgage has its advantages, the market could see a brief slowdown in activity as more homeowners reach that magical point of leaving a monthly mortgage payment in the past.