Taking time to consider mortgage offers 'could save £3,000'

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Consumers could save up to £3,000 a year by researching mortgage offers more thoroughly, according to a financial expert.

Research by advice website Fool.co.uk found that people generally spend an average of four hours longer considering holiday deals than they do when thinking about the mortgage options available to them.

In response to this, the website's personal finance head, David Kuo, stated that there could be major financial benefits by taking longer to consider options.

He said: "While a good holiday will recharge your energy levels for a few weeks, healthy finances can boost your bank balance for a lifetime.

"By taking a bit more time considering such things as your mortgage, you could save up to £3,000 in one year to pay for the dream vacation you've yearned for but never quite been able to afford."

Mr Kuo's comments have come after mortgage firm Charcol announced it is now offering fees-free mortgage advice to consumers in the UK market.

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