Remortgaging activity has hit a near-decade high as homeowners rush to lock into low rates amid uncertainty over Brexit.

Aaron Strutt, of Trinity Financial, told the Financial Times: “The lenders we speak to are still very focused on competing to offer the cheapest rates. Despite the Brexit turmoil, that hasn’t really changed.”

He added, for those seeking maximum reassurance in the face of political uncertainty, lenders provide competitively priced 10-year fixes. TSB has a 2.39% ten-year fix for those with a 40% deposit and it has a £995 arrangement fee. “Even though the rate is higher than the cheapest short-term mortgages, the long-term payment security is appealing to many borrowers,” said Mr Strutt.

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