Remortgages could save £255 per month

Jessica Nangle

August 3, 2017

cash purchases

Borrowers could save £255 a month when the biggest period of mortgage maturities in five years begins in September.

Analysis by Yorkshire Building Society indicates homeowners looking to remortgage could see their monthly repayments fall due to reduced mortgage rates and increased house prices benefiting their mortgage loan-to-value.

Charles Mungroo, mortgage manager at Yorkshire Building Society, said: “Homeowners should be planning ahead long before their fixed period ends to ensure they get the best option.

“Longer term fixes may appeal to borrowers who want to keep their monthly repayments as low as possible whilst also being able to budget for the next five years.”

This comes as data from CACI revealed that £17bn worth of mortgages in the UK are due to mature in September and over £18bn in October; the biggest two month maturity period since 2012.

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