study updates that mortgage holders are changing repayment plans
Throughout the United Kingdom there
are many mortgage holders who are thinking of increasing their
mortgage repayments simply to decrease their high monthly interest
rate, this data was revealed by finance study updates.
Intelligent Finance had investigated
further, the banking institution Halifax, clearly states that
75 per cent of people currently with a mortgage would like to
adjust their mortgage term or add a greater lump sum each month
to reduce interest rates.
Many mortgage holders have justified
that the mortgage deal they are with restricts them from adjusting
their current deal.
Through gathered data intelligent Finance
has opened a new self-service component to the offset mortgage
availability, this giving customers a chance to decrease their
current mortgage term and change monthly repayments with out any
Mark Parker, director at Intelligent
Finance comments, "We now have a generation of mortgage holders
who view their finances holistically and want more flexibility,"
"We're putting mortgage holders firmly in the driving seat
- right where they belong."
However, a homeowner may have
great savings over years, the mortgage would be decreased and
the homeowner would have to pay off a sum but on a smaller scale
if they decided to change their plan.
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