View more on these topics

Rate rise will boost remortgaging market, says homefast

Remortgaging specialist homefast says the base rate rise will further boost the remortgage market.

John Brian of homefast says: “Following today&#39s rise and with interest rates widely expected to exceed 5% by the end of the year there is a huge incentive for people to remortgage. The most popular mortgages are likely to be short-term fixed mortgages due to the great headline rates provided by Britannia and the Co-operative Bank, which both have a two-year fixed at 4.79%.

“Remortgaging accounted for only 37% of the market in April, according to the CML&#39s latest figures, down from 41% in March. But this slowdown is not expected to be permanent as people are almost always better off remortgaging than staying with the SVR and the latest rate rise is likely to prompt an increase in remortgage activity.”

Recommended

Enable completes first induction course for ARs

Enable Mortgage & Insurance Network, part of the Skipton group, has completed its first induction course for appointed representatives. The first enable members completed their two-day course in Chichester, West Sussex on June 8. The network says it has courses scheduled right up until regulation day for mortgages. The two-day course covered FSA compliance, product […]

How many times do I have to tell you the answer, MS?

From Barry CashThree times in recent months you have got 40% of the answers wrong in Mortgage Master or Mortgage Moron. Last week, despite my sending you the correct answers you again got question 4 wrong in your response on the Letters page. The deeds to a mortgaged property are held by the mortgagee so […]

Mother-of-three forced to live in her car

A 41-year-old mother-of-three has been reduced to living in her Mercedes 230 car after her £1m house was repossessed by Mortgages PLC – despite her attempts to clear the debt. The plight of businesswoman Samantha Von Daniken first came to light in The Sunday Telegraph last month after MPLC foreclosed on £546,000 of mortgage debt. […]

Amber sells £22m self-cert prime mortgage assets to Ipswich

Amber Homeloans has announced the sale of self-certification prime mortgage assets worth around £22m to the Ipswich. Ipswich says this portfolio sale will allow it to further develop its mix of lending business. It says borrowers will not see any change to the terms and conditions of their mortgage as a result of this transaction […]

Newsletter

News and expert analysis straight to your inbox

Sign up