Kensington has reported that intermediaries are divided on the opportunity to grow their remortgage business in advance of any increase in the Base Rate.
A survey of 615 mortgage intermediaries has found that 55% do not expect any significant increase in remortgage business prior to the first Base Rate rise.
However, 45% do expect to increase their remortgage business even before rates begin to increase from their historic low.
Yesterday the Bank of England Monetary Policy Committee held the Bank Rate for the 30th consecutive month. It remains at 0.5%.
Charles Morley, head of sales at Kensington, said: “While over half of intermediaries expect a challenging outlook in terms of increasing their remortgage business