Eight Year High of the Number of London Remortgagors

Eight Year High of the Number of London Remortgagors

March 28, 2018

There were 14,500 new homeowner remortgages in London completed in the fourth quarter of 2017 according to UK Finance, 9.8% more than in the same quarter a year earlier and the highest level in eight years. These deals totalled £4.41bn of remortgaging in the fourth quarter – a significant 16.4% more than the year before.

 

First-time buyer lending didn’t see the same boost, with 10,700 new first-time buyer mortgages completed in London in the fourth quarter of 2017, a similar number  recorded in the same period in 2016.

 

The average first-time buyer in the capital is 32 and has an income of £66,000.


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