More time spend researching holidays than mortgages

Written by Karen Bryan

Evidently UK residents are willing to spend more time researching their holiday than their mortgage. While 36% of Brits spend more than 10 hours researching a leisure trip, only 22% would be wiling to spend this amount of time on finding the best mortgage deal.

Is this a rational use of time? I don’t think so. Finding a good mortgage deal could save you thousands of pounds a year. You may have to change mortgage every two to three years to ensure you find the most competitive product but think of all the extra holidays you could afford with the savings in interest repayments. I do appreciate that it’s probably more fun to do travel than financial research but doing thorough financial research and yes that does mean reading through the small print. is a good investment of your time.

More time spend researching holidays than mortgages

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2 Responses to “More time spend researching holidays than mortgages”

  1. I suppose that depends. You can easily spend £4000 on a family holiday EVERY year and there are so many variables. Probably more than marginal difference on mortgages unless you head for something really uncompetitive.

  2. Clive – yes it does depend on a lot of variable. eg the size of your mortgage. Now that interest rates have fallen dramatically there maybe isn’t such a saving to be made by shopping around. However a bit of legwork and effort can still save you a lot of mortgage payments.