Remortgaging in vogue following credit crunch

Research from Spicerhaart also suggests consumers are increasingly favouring long-term fixed rate deals because of the uncertain outlook over interest rates. In February 2008, around 34.5% of consumers chose to remortgage, up from 24% in March 2007. Spicerhaart believe the impact of the credit crunch is a key reason for the move to remortgaging. “Following the credit crunch we have seen a steady increase in the number of people choosing to remortgage their property, using the cash to improve their existing property or pay off debts,” says Steve Cox, operations director at Spicerhaart....