Nearly half of all mortgage business conducted in the first quarter of 2008 was people remortgaging their properties according to industry experts.
Research from the Intermediary Mortgage Lenders Association (IMLA) found that mortgage brokers expect to be approached more for remortgaging deals over the coming months.
Executive director of the IMLA, Peter Williams commented, "With home-buying activity currently depressed and many fixed rate and discounted deals up for renewal, there has been an increase in remortgaging business."