MMR concern over the remortgage market

MMR concern over the remortgage market

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Video transcript

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.

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