The number of homeowners and landlords switching to a new mortgage jumped by over a third in April as borrowers rushed to lock in low rates before interest rates rise again for only the second time in a decade.
UK Finance, the trade association for banks and building societies, said 40,800 homeowners remortgaged in April, up 36% compared with the same month a year earlier.
This was worth a total of £7.5bn, up 44.2% from a year ago.
