Smoking ban to help with mortgage?

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.

With the nationwide public smoking ban soon to kick in, mortgage holders should be aware that they could save as much as £29,000 on mortgage payments should they quit smoking, a new report claims.

A study from reveals that a 20-a-day smoker could save around £2,016 per year by giving up smoking - which as enough of an incentive in itself. But if they were to put these funds towards even a relatively small mortgage of £100,000 over 25 years, they would cut the term of their mortgage by eight years through overpayment - and would additionally pay £29,378 less interest.

"When smokers look at what quitting can do to their finances it may provide that added incentive to finally stub out the habit," Drew Wotherspoon of comments.

"A 20-a-day smoker can save around £2,016 a year by giving up which, in itself, is incentive enough.

"Yet when you look at what overpaying by this amount can do to a mortgage, it is even more of an enticement. Even someone with a relatively small mortgage of £100,000 will pay £29,378 less in interest."

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