ARCHIVE: Number of people remortgaging up year on year
According to figures from the BBA, the number of people remortgaging their properties rose by 15.7% year on year to January 2017. BBA claim that the rise in people remortgaging can be attributed to the low interest rates with people taking advantage of the competitive mortgage offers.
This was reported in the Mortgage Introducer during February*.
What this means for home owners
Adam Nanson from Your Mortgage Expert comments:
“With the interest rate remaining low currently, many prudent home owners have been saving money on their monthly mortgage payments by switching to a new deal.
“However, as reported by us in December, there are predictions that the Bank of England might be set to put up interest rates. If this does happen, we could see mortgage rates start to go up for the first time in long time.”
How Your Mortgage Expert can help
Adam Nanson continues:
“If you’re thinking about remortgaging, then an independent mortgage broker like Your Mortgage Expert can be a prudent choice. We can research the market for you to find all the current deals and can make the most appropriate recommendation for you based on your circumstances. This can save you time, money and stress.
“Added to this, some of the deals we have access to may only be available through independent advisers like us. So, whether you’re looking for to fix your rate for two years, five years or something more flexible, Your Mortgage Expert can review your circumstances and give you the most appropriate mortgage rate advice based on your affordability.”
We don’t charge for an initial consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our about us section.
The information contained within this article was correct at the time of publication. It is intended for information only and should not be used as a basis for purchasing any products. We cannot be held responsible for something that was correct at the time but subsequently changes or goes out of date. For further information, contact Your Mortgage Expert on 01722 322683.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. SECURING SHORT TERM DEBTS AGAINST YOUR HOME COULD INCREASE THE TERM OVER WHICH THEY ARE PAID AND THEREFORE INCREASE THE OVERALL AMOUNT PAYABLE. YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
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