Strong remortgage activity in January – BBA

Mortgage Introducer

February 24, 2017

Remortgage activity rose by 15.7% year-on-year to January 2017 driven by historically low interest rates, the BBA’s high street banking stats show.

Overall new lending rose by 6.3% £13.8bn in the year to January.

Eric Leenders, BBA managing director for retail banking, said: “The new year saw homeowners make the most of historically low interest rates by taking advantage of competitive remortgage offers.

“Nearly 29,000 of these deals were approved last month – 16% higher than January last year.”

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