Three-quarters of people in the UK do not understand how a one per cent difference in
Nationwide Building Society explains that a difference of one per cent on a five-year fixed-rate
Nearly one quarter – 23 per cent – admitted they had no idea what a one per cent increase of decrease in rates would be in monetary value.
“People’s lives are busier than ever in the run up to the festive season and, as a result, they may be less inclined to shop around for the best deal,” said Matthew Carter, divisional director for
This may mean many borrowers just accept a higher rate in exchange for “less hassle”, he added.
Experian’s latest personal credit index found that 77 per cent of people with a
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