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Comment on Bank of England gross mortgage lending in November PDF Print E-mail
Thursday, 04 January 2018
John Phillips, Just Mortgages and Spicerhaart group operations director, says “It is no surprise that the value and number of remortages was up in November.  The industry was expecting a boom as so many fixed rate deals came to an end.  However, the number of interest only mortgages that also came to fruition must have been a factor as those borrowers, that had no exit plan, found themselves needing to remortgage.  There are many more that will be in the same situation in the coming months and I expect that remortgaging will continue to be the element that keeps mortgage lending figures up, even though we are heading into a traditionally buoyant time for house purchase.” 
 

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