Home owners in the UK are remortgaging more frequently
than a year ago with new date revealing the highest number of remortgage
transactions in August since July 2009. Rising house prices and record low
interest rates helped the number of remortgage loans to reach 36,195, up 8%
month on month and 45% year on year, according to the data from property
services firm LMS. However, the overall value of gross remortgage lending fell
by 2% from £6 billion in July to £5.9 billion in August, as home owners’
average remortgage loan amount dropped by 6% between July and August from
£172,184 to £162,268. Read more on the Property Wire website.
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