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Up to 750k remortgage opportunities in first half of 2019 – Virgin Money

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  • 25/01/2019
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Brokers have been urged to grab hold of opportunities to grow their business this year, as hundreds of thousands of borrowers come to the end of deals.

 

There are around 750,000 mortgages due to mature in the first half of 2019, according to analysis by Virgin Money.

Of these, 185,000 are households that will be looking to remortgage for the first time – a 10% increase on the same period in 2018 – the lender found.

This gives brokers a vital opportunity to help guide these homeowners through the process, with more choice and better rates up for grabs.

The average 95% loan to value (LTV) deal has dropped to 3.7 per cent from 4.16 per cent since 2017.

Buy to let tax changes

There are around 118,000 buy-to-let mortgages maturing in the first half of 2019, according to Virgin Money.

And this month is also set to be the first time many landlords will pay a higher tax bill, following changes to tax rules two years ago.

A new rate could help buy-to-let investors maximise their profits, Virgin said.

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