Remortgaging ‘could be the answer’
Article Category: Debt Management Help and Advice
Remortgaging could be the answer for millions of hard-pressed borrowers, according to Abby Bank.
A survey undertaken by the bank reveals that around five million people around the country are not aware that they could have a better mortgage deal and are paying out an extra £1 million collectively each day as a result.
In addition, nearly 50 per cent of the homeowners polled said they did not review their mortgage arrangements on a regular basis.
The bank claims that five million Brits would save £5 a day it they remortgaged.
Nice Audhlam-Gardiner, head of mortgages at Abbey, said: "£5 a day or £140 a month on average is not an insignificant amount of money and we know for a fact that five million people could benefit immediately by shopping around."
The Abbey last week reported that increasing numbers of British students are saving with the aim of raising a deposit for their first house.
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