The latest figures from UK Finance reveal that remortgage approval rates were up by 23.4% in September 2019. This is in comparison to September 2018.
There were almost 86,000 mortgages approved by the main high street banks last month.
Homeownership will be at the forefront of a lot of minds with a potential general election being proposed. Fortunately, these figures show that there are still lots of lenders out there willing to underwrite mortgages.
It’s a very encouraging sign for buyers and existing mortgage holders alike!.
It also goes to prove that despite worries about buying during Brexit, there are still plenty of mortgage applications being made.
There’s many reasons to think about remortgaging, whether that’s to get a better mortgage deal, borrow more money or to give yourself a fixed monthly payment. With remortgage approval rates rising, now is a great time to consider it.
Read more about remortgages here. If you need any help or advice, give us a call!
