Trussle Mortgage Saver Review 2018
Mortgage Saver Review February 2018 | Volume 02 Introduction 1 At Trussle, we believe that everyone should We now know that all of these issues contribute love their journey of owning a home. It’s why to ‘switching inertia’, collectively costing we’re committed to improving the areas of approximately two million homeowners almost the mortgage journey that negatively impact £10 billion a year1- equal to the annual cost of all borrowers the most. The second volume of our online fraud in the UK.2 Mortgage Saver Review presents solutions to key issues, with supporting proprietary data For the average borrower, the difference and analysis. We also call for industry-wide between a market-leading deal and the adoption of sorting deals by ‘true cost’ to average SVR is around £4,700 in extra interest provide a more accurate reflection of its costs each year3 - enough to pay for school fees, over the full initial period. home improvements, or even that elusive family holiday. Buying a home is more than just a transaction. It’s a step towards building our lives and dreams. Last year, Trussle called for a Mortgage Switch It’s tragic therefore that millions of homeowners Guarantee to address many of these issues.4 become so frustrated when securing a The proposals included improving the way that mortgage that they become disillusioned lenders communicate with customers when with what is one of the biggest emotional and it’s time to switch, and simplifying the way that financial decisions of their lives. deals are displayed for fairer comparison. Mortgage deals are presented in a variety of We’ve since engaged lenders, policy makers, ways, but the focus is almost always on the and the regulator to discuss how best to launch headline interest rate.
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