News

12/06/2012 15:21:36

11% targeting mortgage repayments

New research shows that more than one in ten homeowners is planning to remortgage, pay-off or make overpayments on a mortgage over the next year.

Clydesdale and Yorkshire Banks found there are regional differences when it comes to this sort of financial planning, with those from the Midlands most likely to review their arrangements (17 per cent), while those in the North East are least likely to do so (six per cent).

Just over half of home owners are planning to stay in their current property for the next 12 months, with 23 per cent of the belief that nothing could convince them to move.

Despite this, the financial advice from Steve Reid, retail director for Clydesdale Bank, is that a mortgage can be reviewed at any stage.

"People often only think about changing mortgage when they move but even those that are very settled in their current home can remortgage to ensure they have the best mortgage for their needs," he explained.