Firstrung suggests competitive remortgage deals do exist

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Firstrung suggests competitive remortgage deals do exist

There are great remortgage deals available on the market, according to a source from Firstrung, but they are not widely accessible.

Paul Holmes, chief executive of the firm, explained that lenders are fighting over borrowers who have at least 25 per cent equity and a perfect credit history, since they know there is far less risk involved.

But he stressed that the masses will not have access to the best rates, adding: "There are some fabulous deals out there.

"There is still mortgage business being transacted, it's just mortgage business as it was in the 1970s or 1980s."

Mr Holmes predicted that the sort of mortgage market we have seen over the past decade will not return for a very long time, if at all.

Last week, Alexander Hall chief operating officer Andy Pratt suggested there will be more 90 per cent loan-to-value arrangements entering the market and this will be beneficial for consumers.

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