Almost 25 Per Cent Of Home Owners Unsure Of Mortgage Loan Rate
A large percentage of the population in the UK are home owners and most of these individuals have some kind of mortgage or home loan secured on their property.
Whilst we all claim that we have shopped around the market place for the most competitive deal on our mortgage loan, a recent survey has revealed that almost one in four borrowers with a fixed rate loan actually have no idea as to what rate of interest they are currently paying, this equates to a total figure of around five million borrowers.
The research has been conducted by Impartial.co.uk, an online company which offers to help its customers find an independent mortgage loan broker in their local area, who will be able to provide independent advice and recommendations on mortgage products from the whole of the market place.
The survey also found that approximately 2.4 million home owners are considering re-mortgaging their house in the next six months and out of these, almost half are not confident about being able to find a suitably good deal on their mortgage or home loan.
Despite this level of ignorance and negativity amongst home owners, there is still a good choice of mortgage and home loan products available in the market place, many of which offer competitive rates and could save borrowers a lot of money on their mortgage costs over the term of the loan.
If you are one of the five million people who don’t know what they’re paying, check the rate with your current lender and then contact an independent adviser who has access to the whole of the mortgage loan market, you may be surprised at how much you could potentially save, even in these difficult times.
