Remortgaging

Remortgaging activity has remained fairly robust. The availability of lower mortgage rates and lenders increased appetite have clearly been factors supporting this. With the expectation that rates might fall further, especially since the TFS funds became available on 19 September, there is a great deal of potential for remortgage lending based on price alone.

There are approximately seven and a quarter million households between 25 and 60 who own a home with a mortgage. Of these, 61% (4.4 million) have loan that is priced more than 2% above bank rate, and 2 million of these have a loan priced more than 3% above. Obviously a proportion of these may be part way through a deal, but there is still a considerable amount of opportunity for existing borrowers to reduce their mortgage outgoings by remortgaging.

Author: Fionnula Earley Countrywide's Chief Economist

Contact Us

Countrywide Mortgage Services

Tel: 01908 465027

Contact us
Our website uses cookies so that we can provide a better service. Continue to use the site as normal if you’re happy with this, or find out how to manage cookies.
x