Home owners finding it 'virtually impossible' to remortgage - Telegraph
The exclusive data, based on more than a quarter of a million remortgage valuations since 2007, reveals the full extent of the difficulties facing home owners looking to secure a new home loan.
At the height of the property boom in 2007, home owners did not need any equity in their homes to remortgage, with one in 20 borrowing more than the actual value of their home. It meant the money raised could be used for home improvements.
However, not only is now impossible for those already on the property ladder to strike the same deal, but they will need a deposit of at least 15 per cent.
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