Brits 'failing to grasp the importance of an interest in mortgages'

Money News

www.moneynews.co.uk > Mortgages > Brits 'failing to grasp the importance of an interest in mortgages'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Brits 'failing to grasp the importance of an interest in mortgages'

A large section of UK society are failing to understand the importance of taking an active interest in taking on and maintaining the best deal on their mortgages, it has been argued.

Paula John, editor-in-chief at Your Mortgage, said there is a clear lack of understanding when it comes to mortgage offers and this is a problem that is holding many homeowners back from making considerable savings.

She commented: "A lot of people see a mortgage as a means to an end; it is a good way to buy your property and once you have done that, you forget about it."

However, Ms John argued people only really look at the detail of it when the time comes to change their mortgage, while for the vast majority of people, if they were asked what present rate they pay on their borrowings they would be unable to give an answer.

According to figures from the British Bankers' Association, the number of house purchase applications approved in January 2012 was the highest seen for two years and 34 per cent higher than in January 2011.

Click here for more mortgages newsADNFCR-323-ID-801305012-ADNFCR

Related News : Mortgages

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet