BoE: Remortgaging rose sharply in November

Over 34,262 borrowers were approved for remortgages, up from 30,429 in  October, which is a considerable jump on the 28,210 monthly average. The number of loan approvals for house purchase at 48,019 was also slightly higher than the October figure of 47,315. Brian Murphy, head of lending at independent mortgage broker Mortgage Advice Bureau, said the spectre of interest rate rises is pushing consumers to act to seal in low rates sooner rather than later. "The sharp increase in the number of remortgages shows that consumers are becoming far more wary of potential interest rate rises...