Remortgage lending may be helped by the more optimistic outlook of the housing market. According to Halifax the affordability of housing is the best it has been in the last 14 years. As buyers come back to the market then homeowners will see their property values increasing and the better remortgage deals will be available to them. Without buyers in the market property values have fallen and many homeowners have slipped into negative equity.

Martin Ellis, a housing economist with Halifax, remarked “The falls in house prices and cuts in mortgage rates in the last few years have resulted in a significant improvement in housing affordability for those able to raise the necessary deposit to enter the market.

Full story is available on Remortgage.com