Re-mortgagers 'reducing Christmas costs to pay house costs'

Compare tariffs and switch energy supplier in minutes

Compare energy deals and switch supplier to cut your energy bills by £447* a year - start saving money in a matter of minutes!

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

Re-mortgagers in the UK have decided to cut down on the amount they are spending at Christmas in order to pay off costs on their home, according to new research.

The study by Lloyds TSB found 64 per cent of re-mortgagers are planning to cut back, while 71 per cent are expecting their monthly repayments to increase when their current deals expire.

Commenting on the findings, Lloyds TSB's director of network mortgage sales, Alison Burns, said that cutting back on festive spending offers a "short term solution", but it is a good idea for people with mortgages to take a long-term view of their finances.

"Some consumers may prefer a stepped rate deal that allows them to ease into the new higher interest rate environment. Other homeowners might opt for a tracker product, which will enable them to benefit from any potential drops in interest rates."

Lloyds TSB offers a range of financial services to customers across Britain, including mortgages, pensions and accounts.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more