Credit, Collections & Insolvency News
Around one in five remortgage borrowers were considering variable and tracker mortgages in September while first-time buyers’ interest in variable rate products collapsed, new Money Facts analysis has found. The data in September, 21% of remortgage borrowers researching mortgages on Moneyfactscompare.co.uk were considering variable or tracker mortgages, compared with 14% in July. Whilst 7% of homemovers…
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New data from Hargreaves Lansdown has found that around 1.5 million people will need to remortgage throughout 2024. The research also showed that one in five (18%) of those who have had to remortgage onto a higher rate since the end of 2022 have ‘poor’ or ‘very poor’ financial resilience compared to one in eight…
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New analysis commissioned by the Liberal Democrats has revealed that over 3.5 million households in England and Wales remortgaged their homes last year, causing a combined £8.8 billion in additional mortgage payments a year as a result. The Liberal Democrats said it shows Rishi Sunak’s boasts on inflation would ring hollow for families facing eye-watering…
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Remortgaging will dominate mortgage intermediary business in 2023, Paragon Bank research has revealed. A survey of over 350 mortgage brokers found that 78% believe that remortgaging will be the strongest driver of business over the next 12 months, followed by buy-to-let remortgaging, cited by 51%. A third of brokers claimed (33%) claimed that interest-only mortgages…
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