First Choice Finance - Mortgage Broker First Choice Finance Compare Home Owner Loans
First Choice Finance - Mortgage BrokerCompare Home Owner Loans


Remortgaging levels fall in May

Remortgaging levels fall in May

 



Video transcript

There was a significant drop off in the number of remortgaging loans arranged during May 2014, as lenders` tightening criteria took hold.

Figures from Legal Marketing Services (LMS) shows that there was a 19 per cent slip in the total remortgages issued last month, while the value of those loans fell to £3.3 billion, compared to the £4 billion that the Council of Mortgage Lenders reported in April.

Andy Knee is the chief executive of LMS and he explains that `remortgaging continues to lead the market slowdown as lenders tighten their lending criteria, pre-empting any government cap to tackle concerns about an overheated mortgage market`.

However, he doesn`t think it`s a long-term issue, noting that he expects remortgaging to `recover strongly in the months ahead when lenders fully adjust to [the Mortgage Market Review rules], rates improve and a base rate rise finally happens`.

Some people may not wish to wait until then though, so if you are interested in discovering some of your remortgaging options for your property now, get in touch with first choice finance.

We will provide you facts and figures without obligation from our mortgage broker lender panel, if you think there is a suitable deal for you, your personal remortgaging adviser will support you through the whole process.

Find out more about remortgaging today, even if it is just an initial chat you want by heading to firstchoicefinance.co.uk or by calling us on your mobile on 0333 003 1505 or from a landline on 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
4.5% APRC
Representative Example: 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.
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 immovable property.



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

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.


  Best Deals & Latest News

Debt Consolidation Remortgages & Loans

Release Equity Via A Remortgage or Loan

Mortgage & Remortgage LTV Calculator

Reasons Why Mortgages May Be Rejected

Remortgage With Bad Credit

Online Home Loans
Secured Loans and Remortgage Advice
Loan or Mortgage Application

Loan Plans

Mortgage and remortgages - Best Buys

Loans Debt

Reduce your monthly outgoings with debt consolidation loans from First Choice Finance helping you consolidate existing credit cards and loans into one manageable monthly repayment.



Major debt worries for 6.5m Brits