Research from IRN’s Existing Mortgage Holders Report 2019 indicates that most existing mortgage holders (EMHs) are very likely to engage in some mortgage-related actions in the next three years. The most common action to be taken in the next three years is debt adjustment or restructuring, encompassing remortgaging and paying off all or part of the mortgage debt. Almost half of EMHs (46%) are planning some form of debt readjustment (i.e. remortgaging the current home – 24% – making a significant lump-sum mortgage repayment but still owing money -15% – and making a final monthly payment or making a lump sum payment to pay the mortgage off – 14%). Just under one-third of EMHs are planning to move home and take out a new mortgage (22%) or port an existing mortgage (13%).
The report (70pp, PDF), is available directly from IRN Research, priced at £1,700.