A survey by Purely Mortgages has found that around 6 out of 10 homeowners have never re-mortgaged their property.
The findings show that of the 2.9 million homeowners who first bought their property over ten years ago, most have never remortgaged. Half of these bought their property over 20 years ago, when the interest rates were above 14%, and have reported that they are now worried about interest rates rising now.
Our view
This is madness. Lenders rely on you not shopping around!
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