Overall new lending rose by 6.3% £13.8bn in the year to January.
Remortgage activity rose by 15.7% year-on-year to January 2017 driven by historically low interest rates, the BBA’s high street banking stats show.
Overall new lending rose by 6.3% £13.8bn in the year to January.
Eric Leenders, BBA managing director for retail banking, said: “The new year saw homeowners make the most of historically low interest rates by taking advantage of competitive remortgage offers.
“Nearly 29,000 of these deals were approved last month – 16% higher than January last year.”
