Barclays urges customers to consider remortgage deals
www.moneynews.co.uk > Mortgages > Barclays urges customers to consider remortgage deals
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Barclays urges customers to consider remortgage deals
Thu 17th Mar 2011
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Andy Gray, head of mortgages at the lender, stressed how important it is for people to keep their home finance arrangements affordable.
In his opinion, one way of doing this is to see what other deals are available.
But Mr Gray also advised people to try to overpay on their current mortgage when they can, since it can cut months and even years off the term of their agreement.
Research by Barclays showed that just ten per cent of homeowners are currently clearing mortgage debt while the base rate is at a historic low level.
"We've seen just a modest increase in the amount borrowers are overpaying on their mortgage in the first two months of this year compared to the same period last year," noted Mr Gray.
Last week, the Monetary Policy Committee opted to hold the base rate at 0.5 per cent for another month, despite mounting speculation that it could be raised soon.
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Related News : Barclays |
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