Miles predicts fast change in mortgage market

The Treasury sponsored review says "recent history" supports the conclusion consumers could be funnelled into better-suited products relatively quickly. Increasing levels of remortgaging and switching between lenders supports a picture of an industry where the stock of mortgages is already shifting. Currently, those most stretched on their mortgages and from lower income groups are those who would most benefit from implementing longer-term fixed rate mortgages, Miles says. But market factors mean they may not be getting the products which are most suited to them. Miles does not ...