11
Mar
Remortgaging activity 'picking up'
Levels of remortgaging in the UK are picking up, new research has
indicated.
Conducted by John Charcol, the study showed that the market share
taken by such loan renewals was up for the third month running in
February.
Ray Boulger of the firm said: "Both purchase and remortgage
activity has increased this year, but remortgages have increased
more."
This was in part caused by a rise in buy-to-let home loans, he
added.
Mr Boulger went on to cite a number of other reasons for the
increase, including an increase in the level of competition among
mortgage providers.
This has resulted in a "significant improvement" in the rates and
choice available to borrowers who have only 15 per cent or 20 per
cent equity in their homes, he suggested.
Recently, Mr Boulger advised home owners - including those with
luxury homes in Suffolk - to pay attention to the rates
they are charged.
