Many homeowners are finding themselves confronted with disappointing valuations for their properties, it has been claimed.
This is impacting people who are in search of a good mortgage rate, said Cath Hearnden, a director at MyMortgageDirect, which could disappoint those looking to remortgage their home.
"I think what has happened is that people think that these low rates aren’t going to last and that they ought to be looking for a competitive fixed-rate deal so that they don’t get caught out," she continued.
Those considering remortgaging need to give the associated fees great consideration, the director revealed, with some potentially benefiting from having a higher rate for a lower fee.
Being realistic about the value of a property is crucial, she added, urging people to seek the necessary advice before making a decision.
Monthly lending figures from the Council of Mortgage Lenders suggested remortgaging still accounted for a higher number of loans in March, but the number was only eight per cent higher than in February and 45 per cent lower than in March 2008.