Tracker mortgage holders wasting opportunities

The research reveals 53% of tracker mortgage holders are not overpaying on their mortgage. One in four are using the extra money to pay off other debts while 7% are letting their current account balances build up.  A further 12% are not overpaying on their mortgage for fear that they will be charged for doing so. Almost 20% of borrowers who are not overpaying are spending their monthly repayment windfall on day-to-day expenses, while 24% are diverting these savings to pay off other debts. David Elms, chief executive of Unbiased.co.uk, says tracker and standard variable rate mortga...