Remortgage activity from landlords will be strong in 2022, according to Paragon Bank.
The specialist lender said that a wave of five-year fixed rates are set to mature throughout the next year. And it’s putting plans in place now to ensure it’s well equipped to manage the surge.
This year’s predicted remortgage boost is because of a steep increase in borrowers opting to fix their mortgage rates over longer terms of five years back in 2017. They did this because of lending rules introduced at the time by the Prudential Regulation Authority (PRA).
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