Remortgaging market ‘set to rise’

The market for remortgages is set to improve due to positive signs in the property market, it has been argued.

Broker at Click n Go Mortgages Peter Cowell suggested that a combination of rising loan-value levels and increased confidence after Halifax and Nationwide recorded house price rises recently bodes well for the sector.

However, it will take time for an increase in enquiries to translate into more confirmed remortgages, he suggested

Describing the sort of products consumers are seeking, Mr Cowell stated: “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.”

He added that shared equity and ownership schemes are options many people are becoming increasingly aware of.

Bank of England figures showed that the number of remortgaging approvals in June this year was up on the April and May figures.

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