11 Mar

Remortgaging activity 'picking up'

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.

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