Increase in number of mortgage deals
May 18th, 2011 by Yas
According to UK lenders, March saw an increase in the numbers of new mortgage deals.
Remortgages in March were 16% higher than those in February, and 17% higher than the number approved in March 2010.
The rise in demand for fixed-rate mortgages is being linked to increased living costs and the fear of an increase to the base rate.
Well over a third of all lending in the first quarter of 2011 was for remortgage lending, which represents an increase of 30% on the last quarter of 2010.
The numbers of new mortgages increased by almost a quarter in March when compared with the previous month, although this was 17% lower than the same time last year.
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