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Investors shopping around for better mortgage deals

Date: Wed, 15 Jun 2005

Property investors are hoping to further increase their profits by remortgaging.

Research conducted by the Property Investor and Homebuyer Show North shows over three quarters of property investors are considering remortgaging over the next 12 months, with the majority saying it is to take advantage of lower rates and more competitive deals.

"Property investors always want to see their money working hard for them and are now more willing than ever to shop around to negotiate the best deal possible for their mortgage," said managing director of the Property Investor and Homebuyer Show North, Nick Clark.

"With interest rates historically low and likely to decrease further in the next few months, we are expecting to see many more homeowners and property investors remortgaging to take advantage of competitive deals."

The Council of Mortgage Lenders now estimates that remortgages account for nearly 50 per cent of new mortgage applications -amounting to almost £9,300 million pounds for this year, compared with 2002's £5,400 million.

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