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01/11/12
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Money advice in increasing demand, says study
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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News
18/01/2010 14:34:28
Remortgage decreases revealed
Remortgages decreased by six per cent in November 2009, it has been revealed.
The Council of Mortgage Lenders' findings showed that there has been a 39 per cent yearly fall in remortgages.
Gary Styles, strategy, risk and economics director at Hometrack, said: "Really the story in the mortgage market at the moment has been the continued falling back in remortgage activity, rather than on house purchase volumes, which really have picked up quite steadily over the last few quarters."
He added that there has been far less interest in remortgaging because in recent times lenders have avoided trying to "aggressively" recruit lots of new remortgage lending.
The British Bankers' Association recently reported that lending for house purchase increased from 42,552 in October 2009 to 44,713 in November, demonstrating a 152.3 per cent increase on the same period of the previous year and a 0.4 per cent increase on November 2007.
