Nationwide mortgage review - the news is good for remortgaging home-owners.

According to the Nationwide mortgage market review, there are signs of increase momentum in the both the mortgage and remortgage market.

Cases of home-owners remortgaging have risen, which is being attributed to lenders cutting rates to historic lows because of the release of schemes such as Funding for Lending.

In addition to rates hitting historic lows, the Nationwide mortgage market review also reveals that house prices are continuing in an upward direction. June saw a property price increase of 1.9% which is the largest increase since the last quarter of 2010.

Increased demand for property has been supported by both modest improvement in employment availability and a reduction in rates.

The news for remortgaging customers is really positive, not only does an increase in property prices mean access to better LTV deals, but rates have been set at historic lows too. This means that it is now possible to remortgage to a far cheaper deal.

While rising property prices are good news for remortgaging customers, for first time buyers and those looking to move house rising prices mean it is more important that ever to secure a mortgage to buy a home sooner rather than later.

Those looking for a mortgage to buy a first home or move house, are therefore advised to seek a mortgage as soon as possible before property prices rise any further.

According to the Nationwide mortgage market review the news for tenants renting is not so positive either, as between April and May average rent increased by 0.1%.

For tenants perhaps the Help to Buy scheme could be a way to climb up on the property ladder. With rates so low and Government initiatives on hand, it makes more sense to buy than to rent.

Whether you want to remortgage or buy a new home call Deal Direct for advice and a quote.

Call an adviser today on 0800 048 8828.