Remortgaging is propping up a slow home lending market in the UK - Property Wire

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Remortgaging is propping up a slow home lending market in the UK – Property Wire

Remortgaging is propping up a very slow home lending market in the United Kingdom. It has accounted for thirty three percent of home lending in April. That is up from 28 percent the month before. There were over 35000 remortgage transactions that were made in April. The market for remortgages has a really good month in testing conditions. Home owners are looking to make out with the best savings they can get. It is a really interesting time.

Key Takeaways:

Remortgaging is becoming increasing populate to help pay off debt.
The increase in remortgaging is providing a false picture of an improved housing market.
A decrease in wages is also causing a financial burden for families.

“Remortgaging is propping up slowing mortgage market in the UK, accounting for 33% of total home lending in April, up from 28% the previous month, the latest data shows.”