Remortgaging Figures

‘The total amount that was lent to remortgaging homeowners increased by 23% from September to October, reaching £4.1bn, as borrowers took advantage of rock-bottom rates on new home loans.

The figures from LMS show that re-mortgages accounted for 31% of total lending and, on average, homeowners are taking out a further £17,318 of equity on top of the value of their original loan. The amount of equity being withdrawn by borrowers increased by 11.4% from September to October, bringing the total released by homeowners last month to about £509m.’

Source: The Times

Myfanwy Neville

Partner: Property and Construction, Sustainability and ESG

T +44 (0)20 8922 9376
E Myfanwy.Neville@bkl.co.uk

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