Almost three quarters (72.8%) of property investors surveyed are actively considering remortgaging in the next year, according to a survey from the Homebuyer Show
The survey also revealed that the majority of remortgaging homeowners would look to reinvest any extra money back into property, either through home improvements to their existing houses (30.6%), or to help fund further property investments (38.7%).
Just under one in ten plan to spend the money on a car or a holiday.
The number of investors considering remortgaging has increased since a similar survey was carried out in August 2004, which showed that less than a third (62.8%) of investors were considering remortgaging at that time.
This indicates that, as the Bank of England looks likely to consider decreasing the base rate later this year, homeowners are seeking to take advantage of more competitive mortgage deals.
Nick Clark, Managing Director of The Homebuyer Show, comments: "The increase in remortgaging over recent years is a reflection of changes in the wider consumer market.
"Property investors like to know they are getting value for money and the best deal possible and they are more willing than ever to shop around and negotiate to achieve this. In response, mortgage lenders are targeting those homeowners with keen introductory offers and tempting rates."
The Homebuyer Show is on from 25 to 27 February at the ExCeL Centre, London.
For complimentary tickets to the show, simply send us your details at homebuyer@in2p.co.uk. Source: http://www.in2perspective.com/nr/20052/11/most-investors-plan-to-remortgage.jsp
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