Remortgaging market is in ''positive situation''
11 August 2009
New figures suggest that the remortgaging market in the UK is enjoying a resurgence.
According to data released by Unbiased.co.uk enquiries for advice on remortgaging have risen by five per cent in the month of June and now account for 33 per cent of searches.
While first time buyers still represented the biggest proportion of enquiries, Peter Cowell, broker at Click n go Mortgages, believes that the remortgaging market is in a "very positive situation at the moment".
He also continued to highlight the type of mortgage policy, remortgage customers may be looking for: "More people will be aware that if they are on low standard variable rates at the moment they are subject to change, so people are sometimes looking at a longer term fixed-rate."
The Bank of England recently reported that mortgage approvals showed a rise in June for the fifth consecutive month.
It also revealed that remortgage approvals increased to 35,011 in June compared to 31,874 in May.
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