A UK newspaper reports that homeowners are remortgaging more money for their homes than two years ago. A mortgage provider stated that the average value of a second or additional mortgage in 2016 was 181,000 pounds, versus 166,000 pounds two years earlier. The provider studied 10,000 loans to get this figure. The provider believes most of the loans are for capital improvements rather than buying a new home. A bankers’ association report believes that people are taking advantage of lower interest rates.
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