News
Remortgage levels rose in Autumn
The number of remortgages approved by UK mortgage lenders grew in the three months to November 2012 compared to the previous three months.
According to Bank of England (BoE) figures the number of mortgages approved for house purchase also increased.
Mortgage Advice Bureau head of lending Brian Murphy attributed the trend to falling rates and greater awareness of opportunities to remortgage:
“A lot of people now are looking at the rates that are available. There’s a good choice and quite a lot of competition. A lot of people are making that call.”
The BoE also referred to the Council of Mortgage Lenders’ predictions for gross lending in 2013, reporting that major UK lenders had provided similar estimates.