The number of homeowners remortgaging reached a two-year high in June according to Bank of England data.<\/p>\n
They rose by 200 from the month before to 41,800 in June, the highest number since October 2022, when there were around 50,000.<\/p>\n
John Phillips, chief executive of Just Mortgages and Spicerhaart, said: \u201cRemortgage activity now at its highest level since 2022 certainly reflects what our brokers are seeing on the ground.<\/p>\n
\u201cWe knew 2025 would be a busy year for mortgage maturity, whether it\u2019s those facing a rate shock from covid-era deals ending, or rate relief from deals chosen in the wake of the mini-budget.<\/p>\n
\u201cIt\u2019s a reminder to all brokers of the leg work required to get back in touch with clients and encourage them to explore their options in good time \u2013 especially in market that has seen so much change since those deals were first taken.\u201d<\/p>\n
Mark Harris, chief executive of mortgage broker SPF Private Clients, added: \u201cBorrowers are keen to shop around for better deals even if it means the hassle of applying to another lender.\u201d<\/p>\n<\/p>\n
Loans issued for house purchase also increased by 900 month-on-month to 64,000 in June.<\/p>\n
Hina Bhudia, partner, Knight Frank Finance, said: \u201cThe housing market continues to move sideways. Mortgage rates and purchasing activity are largely flat, and the pace of annual house price growth has slowed to a crawl since April\u2019s stamp duty changes.<\/p>\n
\u201cThat said, there are good reasons to expect momentum to build as we move through the summer and into the busier autumn market.<\/p>\n
\u201cWage growth remains healthy and recent comments from Bank of England policymakers suggest their focus later this year will shift toward supporting employment rather than reining in inflation.<\/p>\n
\u201cThat gives us scope to see further marginal reductions in mortgage rates over the coming months. Lenders are operating on tight margins, but they have shown they will pass on any drop in funding costs quickly, which should help activity stage a moderate recovery.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The number of homeowners remortgaging reached a two-year high in June according to Bank of England data. They rose by 200 from the month before to 41,800 in June, the highest number since October 2022, when there were around 50,000. John Phillips, chief executive of Just Mortgages and Spicerhaart, said: \u201cRemortgage activity now at its […]<\/p>\n","protected":false},"author":1,"featured_media":2162,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2],"tags":[],"class_list":["post-2161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n