According to the latest LMS Remortgage Snapshot report in March, those who received Remortgaged that month had an average monthly payment increase of £315.67.
Approximately 47% of borrowers increased their loan size in March, and 47% of those resigned took their most popular product last month, five-year fixed-rate products 
According to the report, 30% said their main purpose when recurring is to free the fairness of their property.
Changes in loan size reported by borrowers reveal that 47% increased the size of total loans. 33% did not change in total loan size. 20% reduced the size of total loans
The average loan increase after Remortgage was £20,224.91, while the average loan decrease after Remortgage was £13,715.94
Data also show that 58% increased monthly rimmot repayments. 14% have not changed monthly rimmut repayments, while 28% have reduced monthly rimmut payments
The average monthly repayment increased to £315.67, while the average monthly repayment decreased to £301.50
The average rimoot loan amount in London was £319,045, while the average for the rest of the UK is £161,298, making it 98% higher in London than in other parts of the country.
Previous longest mortgages were found in the northeast at 82.86 months (6.91 years), but the shortest mortgages were found in Yorkshire at 69.95 months (5.83 years), with the longest mortgages term 18% longer than the shortest.
Nick Chadbourne, CEO of LMS, said: “March numbers show expected seasonal changes in cancellations and completion, and as we approach the first major product satisfaction spike in June, the pipeline is expected to increase throughout the next quarter.
“The lowest swap rate we have seen in recent years has given lenders the confidence to competitively price their offerings.
He added: “The first quarter saw a strong finish with instructions and pipelines. As the pipeline matures, we expect the same throughout the year when it was completed. Economic shock waves are the biggest threat to full-flow Trumpnomics.
