Remortgage activity will drive future business levels – intermediaries
By Ehtesham Arif
July 1, 2022
With data showing that remortgage sales have been high recently.
mortgage intermediaries expect remortgage activity to drive business levels over the next year, a new report from Paragon Bank has found.
Paragon’s Mortgage Intermediary Insight Report found that 74% of intermediaries believe that residential remortgage activity will be a key driver of business over the next 12 months.
Other sources of future business include: buy-to-let purchase (44%), first-time buyers (43%), and house movers (33%).
Meanwhile, later life lending (33%) and equity release (21%) were also popular choices.
The report noted that remortgaging has been growing in prominence in the buy-to-let market this year.
as it marks five years since changes to mortgage underwriting regulations helped drive the growth of five-year fixed rate mortgages.
According to digital lending platform Freedom Finance, remortgage sales in Q4 2021 (92,558) reached its highest level of activity since Q1 2020 before the outbreak of the pandemic.