It is widely acknowledged that 2023 is a bumper year for remortgages with 1.5 million fixed rates mortgages coming to the end of their fixed rates this year, according to the latest UK Finance figures.
Within that, about 800,000 mortgages will end in the second half of this year.
However, does the customer go to the broker or do a product transfer with the lender directly?
Heads of some of the biggest high street lenders, Barclays, HSBC, Lloyds Banking Group and Natwest, said that between two thirds and three quarters of borrowers remortgage with them at the end of their deals.
Some noted that there was a difference in approach from those using a broker to those who do not.
With a significant cohort of people expected to come to the end of their deals this year, Mortgage Solutions wants to know if brokers are seeing product transfers becoming more popular than remortgages?
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
