Concern is mounting among property professionals about the impact that the Mortgage Market Review (MMR) rolled out on Q2 2014 will have on people`s ability to remortgage their properties.
Following Council of Mortgage Lenders (CML) figures highlighting a 26 per cent decline in volume and 15 per cent fall in value of remortgages between May last year and this, a new poll has added to concern that homeowners will undoubtedly have.
Mortgage Solutions has found that almost half (47 per cent) of all the property professionals it polled agreed with the assessment that remortgaging had been significantly hit since the new rules came in. Far fewer thought that first time buyers and movers were the worst hit.
This comes at a time when the pressure is building on the Bank of England to increase the base rate, with Howard Archer from IHS Global Insight believing that it will take place either late this year or early 2015.
Either way, that doesn`t leave long to get a new remortgage deal on your home, but help it at hand, mortgage intermediaries that provide advice such as First Choice Finance are on hand to help you find the most suitable remortgaging product for your individual circumstances from their remortgage lending panels before the prices go up.
If you choose us your dedicated mortgage adviser will work closely with you and sift through the remortgage plans we have access to that are suited to you. Coming back to you with a no obligation offer giving you all the facts and figures before you decide to go ahead or not.
Discover more about our remortgaging solutions at firstchoicefinance.co.uk or call us for free on 0333 003 1505 or 0800 298 3000.
Homeowner Secured Loans
Rates From 7.1% APRC
Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property.
First Choice are tied to certain loan providers.
Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee).
Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014-2018.