Remortgaging activity grows
The number of remortgage deals being agreed between consumers and lenders has increased recently, a new survey has revealed.
Research from the Intermediary Mortgages Lenders Association (IMLA) has shown that 49 per cent of mortgage deals are remortgages, up one per cent from the results of their last survey.
Furthermore, the IMLA poll has reported that intermediaries predict the remortaging business will grow by a further two per cent in coming months.
IMLA's executive director Peter Williams stated that the property market is currently "rebalancing".
"With home buying activity currently depressed and many fixed-rate and discounted deals up for renewal, there has been an increase in remortgaging business," he said.
However, not all borrowers will find it easy to secure a remortgage deal in the current market, Mr Williams warned.
Jason Orme, the editor of Homebuilding.co.uk, recently stated that self-builders have a range of mortgage products still available to them.
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