Nick Chadbourne is chief executive of LMS
We can all be guilty of choosing the easy option every now and again, when it comes to both our lives and our finances. But mortgage borrowers could be short-changing themselves by opting for product transfers with their existing lender, rather than searching the market.
While the number of people choosing to remortgage rather than use a product transfer is growing, huge numbers of borrowers could be missing out on potential savings. The average borrower who remortgaged in July saw a £124 decrease in their monthly payments.
Remortgage completions fall 5% while instructions rise