Increase in number of remortgages Q4 2016 according to Paragon Mortgages

Recent press release from Paragon Mortgages headlined ‘Brokers see surge in remortgages as borrowers opt for longer term fixed rates’.
Paragon Mortgages’ latest Financial Advisors Confidence Tracking (FACT) Index report has identified a shift in type of mortgage borrower in 2016, with remortgage business increasing in each quarter.
In the Q4 2016 report it states that 39% of all mortgages handled by advisers between October and December were remortgages, representing an increase of 7% on Q1.
First time buyers, despite a 2% decline in Q4 2016, account for 18% of mortgages handled.
Next time buyers are now the second most common type of borrower having buy-to-let lending accounting for 23% of mortgages handled.
Eight out of ten mortgages are now fixed rate and almost half of fixed rates now longer than two .years.

 

 

Source of information Paragon Mortgages, read the news release 6th March 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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