The number of people remortgaging in August rose dramatically by 11% compared to July and 16% compared to August 2016. This information was reported by conveyancing firm LMS. Borrowers took advantage of low interest rates and longer product terms available during the month.
Surprisingly just 16% remortgaged with new lower overall monthly mortgage payments, instead more applicants want to secure a low rate for longer period.
Source: http://www.yourmoney.com/mortgages/remortgaging-soars-august-borrowers-prepare-rate-rises/?utm_source=Adestra&utm_medium=email&utm_term=&utm_content=&utm_campaign=Editorial%20Newsletter%20-%20NON%20SPONSORED&utm_campaignid=534&utm_cmdid=74918
The number of people remortgaging in August rose dramatically by 11% compared to July
