Almost one in five homeowners could be vastly over-paying on their mortgage by staying on the lender's standard variable rate (SVR), claims a new report.
In addition, more than a quarter opt for the security of a two-to-five year fixed-rate mortgage in a bid to hedge against future base rate rises. These findings are the first in a series from the moneysupermarket.com ‘Mortgage Map’, which aims to uncover trends in the mortgage market by providing a guide to Great Britain’s mortgage landscape. The index will comprise a breakdown of the type of mortgages held in Britain, and a regional breakdown of the mortgages. Louise Cuming, head of mortgages at moneysupermarket.com, says: “We are excited to be able to present our first overview of the ...
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