Those who havent done so yet are obviously thinking about it though, with 65 per cent of those who havent remortgaged thinking about doing so later this year.
While many are looking for better rates, others are looking for a lifestyle change like starting a new business, giving up work or starting a family.
Sixty-six per cent of people agreed they remortgaged to get a better rate and lower monthly repayments, but 19 per cent borrowed more to release some cash.
In 2005, Council of Mortgage Lender figures show that 48 per cent of all home loans were remortgages against 43 per cent last year.
Gary Hockley-Morley, said: Some people still feel that its too expensive to remortgage although it neednt cost a penny.
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