Remortgage activity increased in Q1
Remortgage lending was up by 14% by volume and 11% by value in the first three months of the year compared to Q4 2010, while house purchase lending fell 26% by volume and 27% by value over the same period.
The Council of Mortgage Lenders says that the increase in remortgage activity is likely to be linked to expectations of an increase in the Bank of England base rate.
In March the number of loans advanced for house purchase rose by 24% to 37,800 compared to February, and the value increased by 26% to £5.4bn.
Just 4% of first-time buyers took out an interest-only mortgage in March this year.
May 13, 2011
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
As seen in
