News

Re-mortgaging Popular

There is a decline in house purchasing at present but re-mortgaging is strong.

The number of house sales have dropped 12% in the last six months. On the other hand re-mortgages have risen by almost 9% since March.

It would also appear that although the number of re-mortgages has risen the amount of loan-to-value has dropped from 65.81% in August to 49.01% in September.

This suggests that people are unsure of the market and are re-mortgaging rather than buying at the moment possibly waiting for the market to settle before considering moving.