The Sunday Times - Loyalty comes at a price for borrowers - September 2013
Building societies are quietly charging loyal borrowers thousands of pounds more than new customers for the same mortgage deals " punishing those who fail to shop around for the best rate. Aaron Strutt of Trinity Financial said: "Lenders tend to offer different mortgage rates to new and existing customers and these vary substantially.
Don't assume you will be able to take any of your lender's mortgage rates if your deal is coming to an end. "Borrowers often find it frustrating that they are being offered a more expensive rate than new customers."
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September 8, 2013
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