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Homeowners are rushing to take advantage of historically low interest rates by locking in new mortgage deals. Lending data from the British Bankers Association shows 28,862 remortgaging approvals in January 2017, up 15.7% year-on-year. There was even momentum in new mortgage approvals, up 2.5% month-on-month to 44,657 in January. The Bank of England is widely expected to push up rates at some point in the near future if inflation gets out of control.
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