Remortgaging deals could help people save money, says Barclays

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Remortgaging deals could help people save money, says Barclays

Households looking to cut their monthly expenditure could find that remortgaging helps their financial situation, according to a Barclays representative.

Head of mortgages at the lender Andy Gray pointed out that there are many costs which people can do very little about, such as petrol prices.

But he stressed the cost of a mortgage need not be placed in this category, with remortgaging deals often having the potential to reduce monthly payments.

Mr Gray said: "We know that other financial factors are likely to bite this year, but homeowners can't afford to forget about their mortgage."

Research by Barclays shows that home finance deals are ranked third on average when it comes to people's budgeting concerns, with 14 per cent of respondents seeing it as their top priority.

The firm recently noted how the growth of mobile banking has changed the way people talk about their money, with the formal lexicon conventionally used in the sector being ditched in favour of much more informal language.

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