{"id":2698,"date":"2017-05-01T14:00:11","date_gmt":"2017-05-01T13:00:11","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2698"},"modified":"2017-05-01T14:00:11","modified_gmt":"2017-05-01T13:00:11","slug":"uk-homeowners-thinking-remortgaging","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/05\/01\/uk-homeowners-thinking-remortgaging\/","title":{"rendered":"UK homeowners: Should you be thinking about remortgaging?"},"content":{"rendered":"<p><strong>Many homeowners across the UK continue to capitalise on the record-low rates currently available on the market. So should you, too?<\/strong><\/p>\n<p>The British Bankers\u2019 Association (BBA) revealed that remortgage approvals have increased by 2% year-on-year in March. And the lift in remortgaging is only set to continue as Yorkshire Building Society have recently announced a <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/09\/25\/mortgage-lending-soars-post-brexit\/\" target=\"\" rel=\"noopener\">new record-low mortgage<\/a> rate of 0.89%.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"AOvSIrwAsa\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/04\/27\/mortgage-borrowing-at-post-crisis-high\/\">Mortgage borrowing at post-crisis high<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Mortgage borrowing at post-crisis high&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/04\/27\/mortgage-borrowing-at-post-crisis-high\/embed\/#?secret=C33gTrxd8h#?secret=AOvSIrwAsa\" data-secret=\"AOvSIrwAsa\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>March saw 24,657 remortgage approvals and a total of 41,061 home purchase approvals, which indicates a drop of 2.8% on the previous month.<\/p>\n<p><strong>BBA, however, said the figures were close enough to the six-month average of 41,600. <\/strong><\/p>\n<p>Furthermore, the BBA also revealed that gross mortgage borrowing was at \u00a313.2bn, which was overall <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/11\/25\/uks-mortgage-costs-hit-record-low\/\" target=\"\" rel=\"noopener\">in line with previous months<\/a>.<\/p>\n<p>When looking at these figures one thing needs to be kept in mind: last year\u2019s increase in <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/04\/26\/estate-agents-urge-government-candidates-protect-property-market-stamp-duty-take-hits-new-high\/\" target=\"\" rel=\"noopener\">stamp duty<\/a>, which came into effect on April 1 2016 skewed home sales figures as <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/06\/20\/stamp-duty-stampede-shows-its-consequences\/\" target=\"\" rel=\"noopener\">many investors rushed to buy<\/a> in March 2016 to beat the new surcharge.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"l8t4zO1lq4\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/19\/60-buy-lets-bought-mortgage-free\/\">60% of buy-to-lets are bought mortgage free<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;60% of buy-to-lets are bought mortgage free&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/19\/60-buy-lets-bought-mortgage-free\/embed\/#?secret=lhuWARFbyw#?secret=l8t4zO1lq4\" data-secret=\"l8t4zO1lq4\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The BBA said:<\/p>\n<blockquote><p>&#8220;March last year was sharply inflated by purchases of buy-to-let and second homes ahead of the April rise in stamp duty, so year-on-year comparison is not appropriate.\u201d<\/p><\/blockquote>\n<p>With this, it might take a couple of months for the market to return to levels that are worthwhile comparing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many homeowners across the UK continue to capitalise on the record-low rates currently available on the market. So should you, too? The British Bankers\u2019 Association (BBA) revealed that remortgage approvals have increased by 2% year-on-year in March. And the lift in remortgaging is only set to continue as Yorkshire Building Society have recently announced a<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/05\/01\/uk-homeowners-thinking-remortgaging\/\" title=\"ReadUK homeowners: Should you be thinking about remortgaging?\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4376,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[285],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2698"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=2698"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4376"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=2698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=2698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=2698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}