Fewer Britons 'look to remortgage'
Although some Britons are taking advantage of the slight decline in Property prices, fewer people are remortgaging, it has been revealed.
Robert Sinclair, director of the Association of Mortgage Intermediaries, said that one reason for this may be that there is a limit on the amount of money lenders are able to provide amid the economic slump.
"Therefore, if there are more purchases going out there is bound to be less remortgages going through the process because there is a limit on supply at this point in time," he added.
Britons who have been considering selling their home in order to boost their finances during the recession may find that property to rent in Hammersmith or other parts of London affords them time to save.
Mr Sinclair's comments come after Briffy.com stated that although there had been a slight dip in House prices, this decline was slowing - which could further highlight the benefits of renting.
Written by Ben Carter
Published 2nd October, 2009
© 2009 Estates IT Limited
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