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Private Label warns on future of remortgages

Remortgage opportunities for IFAs could disappear if the UK base rate falls to continental levels, according to mortgage packager Private Label.


Private Label chief executive Stephen Knight is predicting that the UK could become similar to the &#39bland Euro-Style mortgage market&#39.


He says: &#34IFAs who advise customers to take a higher fixed rate or capped rate now to avoid a redemption tail may be giving bad advice.&#34


Knight suggests the only reason to take loans without the redemption tail, is the opportunity to re-broker the mortgage in the future, but with the low Euro-style rates this may not be worthwhile.

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