Remortgage activity up in August and September

In August and September, we have seen an increase in remortgage activity as borrowers are rushing to secure a low fixed deal before the expected interest rate rise.

Borrowers are no longer prepared to sit back and wait to see what happens, with the Bank of England giving the biggest hint that a rate rise could happen as early as November borrowers are taking advantage of some very attractive mortgage rates.

This year the market place has been driven by first time buyers and remortgagers and with mortgage approvals up again in August for the second month in a row it suggests we could see a surge in mortgage activity leading up to Novembers committee meeting.

If your current mortgage deal is coming to an end within the next 4 – 6 months, now might be the right time to seek advice and secure your next mortgage deal.

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