11
Nov
Rise in homeowners looking to move their mortgage, report says
There has been a rise in the number of people who previously bought
houses for sale in the UK looking to change their mortgage.
Earlier this week, John Charcol released its latest mortgage index,
which revealed that the number of borrowers enquiring about
remortgaging rose by 42 per cent in October 2010, compared with the
previous month.
This comes despite the number of enquiries concerning borrowers who
want to buy properties for sale in Britain remaining "broadly the
same".
Director of marketing at John Charcol Drew Wotherspoon said that
there was a rise of remortgage enquiries from 600 in September to
855 the following month.
"This tells us that people are finally considering their options,"
it was said.
"With some excellent mortgages now available, it could well be
precisely the right time for many to move their mortgage."
Earlier this week, Bob Riach from Riach Independent Financial
Advisers said that people should "act now" and take advantage of
Switch & Fix deals on their mortgages, so that they do not pay
higher monthly payments if the base rate rises in the
future. 