View more on these topics

Analysis: Is remortgaging finally on the up?

Adams Richard MS blog 150

Like many others, we have been urging advisers to seek out existing and new clients who would benefit from a product switch. It appears the message is getting through.

January figures from the CML showed remortgage advances up to 25,600 from 22,300 in December. Given the competition in the market and downward pressure on rates, we hope this trend will continue throughout the year.

So it was interesting to hear that average two-year fixes have fallen below 3 per cent for the first time. Moneyfacts also noted that the differential between these average rates and SVRs is likely to increase if rates keep dropping.

So the potential savings for remortgage clients by moving off their SVR are high. If advisers can develop this rationale with credit-worthy borrowers, there should be a strong inclination to remortgage.

A major issue has been the MMR and the accessibility of finance. But lenders that may have been too stringent last year seem to have eased off and those wishing to remortgage who pass the checks should be in a strong position.

So a sustained resurgence in remortgaging could finally be on the cards.

Recommended

mole

Mortgage Mole: Where in the world is Roger Morris?

Where in the world is Roger Morris?  Mole has some distressing news for readers. It seems someone has captured Precise Mortgages sales director Roger Morris. Last week, Mole received the picture below, which clearly shows Morris has been imprisoned somewhere. Mole can only assume the motive of the captor is to keep Morris out of […]

TSB store front 700 x 450

TSB doubles annual lending in Q1

TSB increased its mortgage lending by 51.5 per cent year-on-year in the first quarter. Its Q1 results show it lent £479m to borrowers in the first three months of the year – up from £316m in the same period of 2014. Of the £479m, around £100m was mortgage business introduced by brokers.  The lender says […]

Business-Handshake-Finance-Deal-700.jpg

Field set to be new Saffron CEO

Saffron Building Society has promoted Colin Field to the position of chief executive designate. Field, a qualified chartered accountant and currently the society’s chief financial officer, is expected to be fully in the post on 1 September. In the meantime, he will act as deputy CEO. Current interim CEO Mike Kirsch has agreed to stay […]

Dubai

White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.

Newsletter

News and expert analysis straight to your inbox

Sign up