UK 'oblivious' to effect of mortgage rates by Finance News Bulletin

Published: 21/12/07

Moving financial records from one bank to another is "easy", according to the British Bankers' AssociationThe value of Christmas presents can "significantly" affect home contents insurance, warns NFU MutualAxa is initiation My Budget Day on November 21st in an effort to give confidence people to take control of their financesThree-quarters of people in the UK do not understand how a one per cent dissimilarity in mortgage rates would affect their loan, according to new investigate

Nationwide Building Society explains that a difference of one per cent on a five-year fixed-rate mortgage could associate to more than £4,000, but that 28 per cent of populace think it would only be worth between £500 and £2,000Nearly one district - 23 per cent - admitted they had no idea what a one per cent increase of decrease in rates would be in monetary value"populace's lives are busier than ever in the run up to the festive season and, as a result, they may be less inclined to shop around for the most excellent deal," said Matthew Carter, divisional director for mortgages for the structure societyThis may mean many borrowers just accept a higher rate in swap for "less hassle", he added

Experian's newest personal credit index found that 77 per cent of people with a mortgage could not give an accurate meaning of what annual percentage rate, or

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