14
Aug
Positive outlook for remortgaging market, expert says
The remortgaging market is in a "very positive situation" because
recent reports of house price increases are causing confidence
among lenders to rise, according to a property expert.
Peter Cowell, a broker at specialist firm Click n go Mortgages,
said that the recent statistics published by the building societies
Nationwide and Halifax - which show three property price rises in
the past three months - have also caused an increase in consumer
confidence.
His comments follow the publication of research by Unbiased.co.uk
which reveals that searches for remortgages comprised 33 per cent
of all home loan enquiries in June, compared to just 28 per cent in
May.
"Lenders seem to be increasing their loan-to-value criteria as
well, so it is all looking like a very positive situation at the
moment," said Mr Cowell.
Meanwhile, the Bank of England reported last month that the number
of new mortgage approvals increased for the fifth consecutive month
in July.
