Mortgage providers laid the gauntlet to alter rates daily

The challenge has been laid at the feet of lenders to move to daily interest calculation, but some have been slow to react. Yorkshire Bank's general manager of personal financial services Paul Fegan says while "a lot of lenders claim to be heading towards daily interest calculation, only 38 or the approximate 133 UK mortgage lenders offer it as standard". "Talk is cheap. Several lenders have introduced daily interest calculation on some of their mortgages but have yet to transfer many existing borrowers across to reap the benefits. Of those that have, some have even charged their cust...