Remortgaging activity has surged to a near-decade high as
Britain’s homeowners rush to lock into low-rate loans amid uncertainty over
Brexit. Homeowners remortgaged loans to the value of £9.2bn in October, the
highest monthly total since November 2008, when it hit £9.3bn, according to
figures this week from UK Finance, which represents mortgage lenders. The
number of loans they remortgaged — at 50,500 — also hit a 10-year peak since
November 2008, when 68,500 were remortgaged. The remortgage market has grown
sharply in recent years, filling a gap for lenders left by a dwindling appetite
for new loans for home purchase in a cooling housing market. Read more on the
Financial Times website.
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