Remortgaging levels have bounced as homeowners cash in on historically low borrowing costs caused in part by a change in financial regulation.
The number of households that withdrew equity from their home in March jumped 9.1% to 16,810 compared with last year, according to figures from UK Finance, the industry body.
In total, the value of equity withdrawal mortgages was up 7.9% at £3bn. Of that, £937m — or £55,714 per mortgage on average — was removed from equity in the home.
