Financial Times - More rates cut but remortgaging flat
Barclays has slashed interest rates on its fixed-rate mortgages following a flurry of rate cuts among mortgage lenders.
However, mortgage brokers questioned whether the relentless competition on rates was working, as remortgaging activity continues to flatline.
Aaron Strutt, product manager at broker Trinity Financial, said: “The banks have a huge appetite to lend, but their rates are so low that they may need to ease acceptance criteria to tempt more borrowers to take their mortgages.”
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