People put the rate of interest charged ahead of advice as the most important factor in determining which mortgage to choose, research from the CML suggests.
The Council of Mortgage Lenders commissioned MORI to poll more than 2,500 people across Great Britain for the results on factors influencing mortgage choice. The results show 31% make their pick based on the rate of interest charged, while 28% said their choice was made under the influence of professional advice. Just 10% said they were swayed by offers of discounts on rates. Meanwhile, the market continues to move away from endowment mortgages. From 57% of all mortgages in 2000, these now represent just 22%, the survey suggests. Almost three-quarters of respondents, 72%, sa...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
