Borrowers coming off their initial deal period can compare their existing deal and any new offers from their lender with others on the open market, thanks to a new service launched by mform.
Upon entering the details of their current mortgage or those of any offer they have received, mform’s search engine results will show the difference in cost between these and other comparable offers on the market. If the results are shown in red then alternatives are more expensive and borrowers should stay with their lender. According to mform, as many as 116,000 borrowers will come to the end of their initial deal period each month during 2008. An increasing number of lenders are also using new customer profiling rules that decide whether customers receive competitive deals or tho...
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