“We believe that today’s rate change will have a positive effect on the already vibrant remortgage market. The consumers who are likely to be hardest hit by this increase are not new buyers, who can enjoy generous upfront mortgage discounts but those who have had the same not particularly competitive standard variable rate mortgage for a number of years.
“With today's increase (and the threat of more to come) as well as the ever-increasing variety of competitive deals on offer, we believe that many more are likely to seriously consider remortgaging for a better deal”.
