The survey, carried out by Nottingham Building Society, found that 58% of brokers expected a rise in remortgage enquiries while 9% said the increase would be dramatic.
A rise in the number of longer-term fixed rates is expected with 48% of those surveyed expecting more five-year fixed deals to be launched in the next 12 months and 40% predicting a rise in 10-year mortgage products.
However, brokers are reporting a rise in customers giving up on remortgage and mortgage deals because the process has become more time consuming and difficult. Some 41% said they had seen an increase in customers giving up.
Consumer research from the society found the age group most keen to switch are 25 to 34-year-olds. However, 19% of homeowners aged 45 to 54 and 9% of those in the 55 to 64 category were also thinking of remortgaging but research suggested that many people aged 40 and over have struggled to secure new deals.
Ian Gibbons, Nottingham mortgage services senior mortgage broking manager, said: “Brokers believe remortgaging could be a major growth area in the coming year and that is reflected in the new deals being launched by lenders.
“However there remains an issue about customers giving up on applications because the process has changed since they last took out a home loan which underlines the need for the expert support provided by brokers and the whole of market service.”
