26 Jan

Homeowners should shop around for best deal

Homeowners should shop around for best deal

People that have bought houses for sale in the UK could save money by reviewing their mortgage deal.

Despite the low base rate, homeowners should check their mortgage regularly to see if there are better deals on the market, according to unbiased.co.uk.

Recent research from the advice website showed that 48 per cent of homeowners have not checked for better deals since the base rate fell to 0.5 per cent in 2009.

The site warns that people have been drawn into a "false sense of security", and advises customers to shop around.

Chief executive of unbiased.co.uk Karen Barrett said: "Homeowners should seek advice from a whole of market mortgage adviser to ensure they get the best deal available to them.

Karen Barrett, chief executive of unbiased.co.uk, said: "With the base rate remaining at 0.5 per cent for this period, it is easy to see why homeowners have become less vigilant.
"Almost half have not looked at their deal at all during the last 22 months."

First time buyers could also benefit from shopping around when looking for houses for sale in the UK.

Which? recently published a chart revealing which mortgage lenders apply the fewest fees to their deals, which will help buyers keen to keep costs down during the house buying process.


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