LMS Remortage snapshots show that rebellion instructions in February increased by 12%.
Data show that the full responsibility rate increased by 11% in February, while the overall cancellation rate decreased by 8%.
When re-responsibility, the most popular primary purpose is to lower monthly payments and be cited by 28% of borrowers.
The transfer company survey said 42% of borrowers increased their loan size in February, with an average monthly payment increase of £294.66.
It added that 46% of those reappeared came out with a five-year fixed-rate product, the most popular product last month.
“The first quarter products were the lowest due of the year, so this buoyancy activity is good through January and February for the rest of 2025,” said Nick Chadbourne, CEO of LMS.
“We have two important spikes: at the end of the second quarter, by the end of the year, so
Expect to see the growth of the pipeline from now until June. ”
“In terms of behavior, we are still seeing an increase in monthly payments, partly because of borrowers’ increased loan size, but also because of the ongoing rate shock of historically low interest rates.”
“We have returned to balance in product procurement, with 45% choosing for two years, while 46% continuing for five years. While the rest of the market is considering this, borrowers obviously feel unreliable about lower interest rates.”
