Alliance & Leicester Mortgages: trackers confusing
www.moneynews.co.uk > Mortgages > Alliance & Leicester Mortgages: trackers confusing
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Money News |
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Alliance & Leicester Mortgages: trackers confusing
Wed 7th Dec 2005
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This leaves half of homeowners unaware of an option that could help keep their monthly payments down, according to the bank.
Stephen Leonard, Alliance & Leicester mortgages director, said: "It is quite worrying to think that such a large proportion of homeowners are unaware of what a tracker mortgage is and how it could save them money on their monthly mortgage payments."
The research also shows that almost three quarters of the public are not clued up on tracker mortgages.
Furthermore, only a third know that the trackers' rate of interest follows the Bank of England base rate.
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