UK Money News
21st January 2008
Abbey debt advice includes comparing mortgages
Comparing mortgages can be an important way for British consumers to manage their money more effectively, according to debt advice from Abbey.
The personal finance service provider claims that as much as £25 million is wasted each day by homeowners around the country who could have secured a more competitive mortgage deal.
Abbey reports that around 47 per cent of British homeowners fail to review their mortgage arrangements on a regular basis and almost five million are aware that they are repaying more than is necessary.
Nici Audhlam-Gardiner, head of mortgages at Abbey, said: "We know for a fact that five million people could benefit immediately by shopping around.
"Women are slightly worse than men, with 49 per cent of them failing to undertake a regular review of their mortgage compared to 46 per cent of men."
Trouble with money has forced close to half a million British consumers miss their mortgage payment deadlines since July 2007, according to figures from MoneyExpert.
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