More than one of ten customers in the UK are planning to pay-off, remortgage or make over payments to their loans in the next 12 months, according to a new research by Clydesdale and Yorkshire Banks.
Property owners in the Midlands will most likely to re-examine their mortgage arrangements, with 17 percent planning to pay-off, remortgage or make over payments to their loans compared to only six percent in the North East.
“A mortgage is the biggest financial commitment that many people have and we welcome this research which shows that 11 percent of people in the UK are focused on their mortgage arrangements,” said Steve Reid, Retail Director at Clydesdale Bank.
The research also revealed that majority or 51 percent of the respondents plan to stay in their present property for the next 12 months, while 23 percent are very content with their homes, saying that nothing could entice them to move.
Only 30 percent indicated that they would move out of their homes out of necessity such as a change of job or an addition to the family.
“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,” added Reid.
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