The number of homeowners who remortgaged with different lenders fell last month to its lowest rate since 1999, suggesting that borrowers are struggling to find better deals.
Net approvals for remortgaging dropped to 20,588 in September from 25,083 in August, according to figures from the Bank of England.
The number of mortgages approved by banks slid to an eight-month low in September of 43,328, below economists’ expectations and down from 54,585 in June. It was the lowest figure since January, when approvals were 39,892.
