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Ash4781

Re-mortgaging Vs Mortgages For Home Purchase

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Looking at the BBA figures re-mortgaging as risen while mortgages for home purchase have decreased.

Probably a stupid question but do those re-mortgaging reduce the credit available to those for house purchasing ?

As the mortgage companies are repricing their credit surely there is a rush to re-mortgage anticipating rising prices.

http://www.bba.org.uk/content/1/c6/01/29/73/stats270308.pdf

Edited by Ash4781

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good question.

part of me says no. if i pay off an existing loan at bank x with a loan from bank y, i release funds for bank x to lend again?

but if last year bank x was northern crock and now they cant lend and everyone is remortgaging with nationwide then nationwide have less to lend? and raise rates?

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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