Mortgage News
MS Poll result: 66% of brokers expect a remortgaging surge
The latest Mortgage Solutions poll revealed two-thirds of brokers expect a flood of remortgaging applications in the next few months when thousands of higher priced deals come to an end.
For the borrowers who remortgaged in the first year of the credit crunch and missed out on competitive rates, 66% of those polled expect these borrowers on two and three year deals to remortgage shortly.
Almost a third – or 28% – were more pessimistic and thought borrowers might not be able to access the better rates available now and just 6% said they didn’t know which way the market would go.
Mike Fitzgerald, sales director with The Emba Group, said: “Some people remortgaged during that period at 6% and over and are gagging to get off those rates. A two-year fix offered at 2.49% at the moment is among the best deals I’ve ever seen.”
He said: “Let’s just hope none of those clients are have taken their library book back too late or missed a credit card payment because they’ll have problems, but the brokers I talk to are definitely more confident about our own industry right now – even if not the UK at large after the Spending Review.”
Have your say in this week’s poll – How was the Spending Review for you?
Episode 4: New Build: Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries