Remortgage lending reaches seven year high
According to latest figures from LMS, the value of remortgage lending has reached its highest level since November 2008. This was reported on the Your Mortgage website in May*.
The figures show that monthly remortgage lending rose to £6.4 billion in April, which is an increase of 48% from the previous month.
What this means for home owners
Adam Nanson from Your Mortgage Expert comments:
“We still speak to a number of people who aren’t clear on how to and whether they can remortgage. And, many who drop onto the standard variable rate because they can’t find the time to navigate the process. So it’s great news that so many people are taking the time to remortgage at the moment.
“I just hope these home owners are getting the most suitable deal for them and making sure they research the market fully. As, remortgaging with your current lender may not be the most suitable option for all home owners.”
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.”
To speak to Adam Nanson about remortgaging your property, ring him now on 01722 322683 or complete a contact us form and let him know when he can call you back.
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 We cannot be held responsible for something that was correct at the time but subsequently changes or goes out of date.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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