Consumers could get their entire Christmas paid for them ñ almost three times over ñ if they compare mortgage rate deals to find the best mortgage rate, claims new research.
Homeowners in the UK are each expected to spend £615 this Christmas on presents, food, drink and entertainment, with many reliant on credit or homeowner loans.
But they could save themselves £1,800 a year, enough for one really lavish Christmas or almost three regular ones if they compare mortgage rate offers to find the best mortgage rate, says Bradford and Bingley.
“Moving from your lender’s standard variable best mortgage rate onto a competitive deal is advisable at any time, provided any early repayment charges do not make it uneconomic to do so,” said a Bradford and Bingley spokesman.
“However, around Christmas time, with all the associated expenses, it makes perfect sense. That way you really can have a happy new year without the usual financial headache.”
Bradford and Bingley says that it has produced a range of deals all offering the best mortgage rate and cash back that are ideal for re-mortgaging customers.
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