Lowest mortgage costs since 2004 - CML

House purchase lending accounted for 35% of all mortgage lending in March, up from 31% in February and the highest proportion since December 2007. Remortgaging, on the other hand, still accounted for a higher number of loans in March, but the number was only 8% higher than in February and 45% lower than in March 2008. The CML says it expects remortgaging to remain muted as a result of attractive reversionary rates automatically cutting in for many borrowers as they come out of their existing deals, and less opportunities for those with reduced levels of equity because of falling house pri...