Poll
Remortgage lending passes £6bn mark
The value of monthly gross remortgage lending has risen above £6bn for the first time since 2009.
The LMS Remortgaging Report shows that remortgage lending hit £6.1bn in October, a 20% rise on the £5.1bn seen in September, and a 49% increase on a year ago.
October also saw 37,744 remortgage loans taken out, a 22% increase on the September figure and a 40% jump from the 27,000 remortgages recorded a year ago.
The growth in remortgaging follows news that secured lending rose to over £93.3m earlier this year.
Andy Knee, Chief Executive at LMS, said: “Remortgaging is back with a bang, and rightly so, as borrowers capitalise on the competitive offers currently available.
“We have all the right conditions in place for a remortgage resurgence - lender appetite for growth in business, a plethora of competitive deals available in the market and homeowners sitting on unparalleled housing stock value which surpassed £5.1tn in August of this year.”
Despite the gains, the figures are nowhere near the sums reported pre-recession.
Andy said the Chancellor’s Autumn Statement will be key to gauging any potential changes in housing policies next year.
I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.