Homeowners waste £369 in remortgaging delay

Charcolonline says 500,000 homeowners have wasted a collective £184m because they have not switched to a more competitive deal from their lender's standard variable rate (SVR). The lowest-ever two-year fixed rates arranged in 2003 came to an end over the summer, it says. Charcolonline claims the difference between the best two year fixed rate of 2003 and the current average SVR is 3% which equates to an extra £180 per month. The current difference between an SVR deal and a market leading remortgage product is 2%. Drew Wotherspoon, spokesman at Charolonline, says: “It is absolutely...