75% of mortgage holders paying over the odds

6th October 2017

Three quarters of homeowners could miss out on savings of almost £1.6bn a year. A uSwitch.com study reveals lenders fail to contact borrowers when fixed rate mortgage deals end, so people end up paying over the odds as they get automatically moved onto expensive standard variable rates which can be as high as 5% - 4% higher than the current cheapest fixed rate deal available. uSwitch called for regulation to force mortgage lenders to contact their customers before their deal ends.

Daily Mirror (03/10/2017)

Share this article: