Remortgages pick up pace as high street lenders offer cheaper rates of SVR

Over the past year and a half we have seen remortgage applications drop steadily. However last month activity picked up pace - as 25% of all mortgage applications were for remortgages.

So why the sudden swing - there is no doubt that consumer confidence has played a key role in this, as growing concerns over the uncertainty of Standard Variable Rate mortgages has made consumers shift over to new policies with interest rates lower than SVR being offered by a number of high street lenders.