The number of remortgage buyers and value of borrowing have reached record levels helped by record low interest rates.
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Category Archives: Re-mortgage Buyer
The cost of a fixed rate mortgage has increased for first time buyers and the Bank of England is expected to raise base rates next month.
Homeowners showed resilience with borrowings from home movers rising to £8.4 billion up 20% compared to August last year.
The number of remortgage buyers surge 12% taking advantage of record low mortgage rates to reduce the cost of repayments.
For the second quarter in a row the number of home buyers are lower in London due to restricted supply and affordability.
The mortgage market has seen a rise in the number of products on offer giving homeowners more choice as rates reach new lows.
Home buyers start the year strongly with mortgage lending of £8.9 billion in February which is an increase of 7% over the month.
House prices outpace homeowner earnings in 119 local areas over past two years with majority located in the southern England.
English Housing Survey shows home ownership is the lowest level since 1985 with the private rental sector doubling since 2002.
Home buyer borrowing in London reduces 5% or £310 million in the final quarter of 2016 continuing the downward trend for the capital.