moneysupermarket.com: CML August mortgage figures

Commenting on the Council of Mortgage Lender's (CML) lending figures for August, Hannah-Mercedes Skenfield, mortgages channel manager at moneysupermarket.com, said; "Data from traffic on moneysupermarket.com backs up the CML's figures, showing, for the first time this year, more people were looking for mortgages for new homes than remortgages. This suggests more and more people are quite happy sitting on their lenders SVR whilst rates remain low.

"However, figures from September indicate a slight reversal of the trend, with remortgage searches increasing from an August nadir. This points to the impact of several high profile mortgage launches which hit the headlines throughout the month. The implication in this is that borrowers are being tempted off their SVR if an exceptionally low rate becomes available but not that they are returning to the market in fear of the base rate increasing just yet."