The Sunday Times - Homeowners itch to switch after rate cut
Nine in ten people who have taken out a mortgage since 2014 opted for a fixed-rate mortgage. Did they make the wrong choice — is it worth paying to ditch their deal early?
Aaron Strutt of the broker Trinity Financial, told The Sunday Times: “Some lenders have huge numbers of customers paying well over the odds on their standard variable rates. Sometimes the lenders will not offer them a new deal because they have missed a repayment or they do not have much equity in the property.”
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