Surge in the number of remortgages
David Blake, of Which? Mortgage Advisers comments on LMS‘s report about remortgages almost doubling in July 2015 compared to last year, due to possible hikes in interest rates:
After recent talk of a potential interest rate rise, the market has seen a surge in the number of people remortgaging.
This may have an impact on service standards as lenders try to handle an increase in the amount of business received.
As a result of this we could start to see lenders increasing their mortgage rates as a way of controlling business volumes.
I would urge anyone who is thinking about remortgaging or buying, to explore their options as early as possible.
Act now to explore the best deals available.