Borrowers remortgaging as base rate remains unchanged

Mortgage broker Hamptons International Mortgages says as the Bank of England’s Monetary Policy Committee (MPC) has opted to keep base rates at 4.5% for the sixth consecutive month borrowers are using current deals as an ncentive to spring clean their finances. This month remortgages, as a proportion of new mortgages, have almost doubled, going from 17% to 30%, it claims. Over recent weeks, two year fixed rates have benefited from aggressive competition among large lenders. Halifax and Abbey, recognising the high levels of demand for short term fixed rates, are marketing unusually competit...