According to My Home Move, English and Welsh homeowners remortgaged for around £15,000 more in 2016 than they did in 2014. two years ago, with 57% using it to raise capital. They also found that homeowners in the East Midlands borrowed almost double in 2016, whilst those in the East of England, home counties, North West, South East and Wales also increased their debt.

Key Takeaways:

• English and Welsh homeowners remortgaged for around £15,000 more in 2016 than they did two years ago.
• My Home Move found that those in the East Midlands borrowed almost double the amount in 2016.
• Meanwhile, those in the East of England, home counties, North West, South East and Wales also increased their debt compared to two years ago.

“English and Welsh homeowners remortgaged for around £15,000 more in 2016 than they did two years ago, with 57 per cent capital raising, according to My Home Move.”

https://www.mortgagestrategy.co.uk/home-move-57-remortgaging-done-raise-capital/