Growth in remortgage activity following base rate rise

As interest rates from lenders are starting to creep back up, U.K. banks have seen a recent flurry of remortgage activity as a result. Over 8.1 million U.K households have variable-rate mortgages, meaning that they will directly feel the result of any increases in base rates, which would be passed through to their mortgages. As such, many of those homeowners are rushing to convert to fixed-rate products in order to lock in today’s advantageous rates.