One homeowner in five is thinking of changing their mortgage in the next 12 months to take advantage of historically low interest rates, research claims.
About eight per cent of people say they are definitely going to remortgage for a better deal during the coming year, while 11 per cent say they are considering doing so, according to Alliance & Leicester.
The figures are down from February, when a total of 23 per cent of people were planning to remortgage compared with 19 per cent now.
The main reason people were planning to change their home loan was to get a better deal, with 70 per cent planning to remortgage to save money, while 20 per cent were thinking of doing so to move house. Other reasons included moving from an endowment to repayment mortgage.
Thursday September 11, 2003
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