Re-mortgaging on the up

It's the property story of the day - re-mortgaging activity has perked up by 17% in February, according to the Mortgage Advice Bureau.

After seeing increased activity in the first-time-buyer and buy-to-let markets for a few months now, re-mortgaging finally appears to be catching up. The source of the change appears to be the continuing drop in interest rates, which many believe is due to the introduction of the Funding for Lending scheme last August.

Similar to previous months, those looking for a better deal are keen to secure a fixed rate mortgage with more than 90% opting for two-, three- and five-year rates.

Good news also for buy-to-let investors where Aldermore have given mortgage distributors 3mc access to a deal starting from 4.8% interest at up to 70% loan-to-value. It's available on loans between £50,000 and £500,000. Certainly one to consider if you are planning on investing in property at the moment.

Whilst our team doesn't directly arrange finance for you, we are happy to put you in contact with one of our trusted partners to help find the best solution for you.