Of those questioned, 17% knew the year but couldn’t pinpoint the month when their current mortgage deal finishes, 4% said they could name the month but not the year, 15% didn’t know either and 8% didn’t even know whether they had a special rate deal or not.
Guy Aldwinckle, head of mortgage marketing at Abbey National said: “We have seen a noticeable increase this year in the number of people remortgaging – in October it accounted for 43% of total industry lending according to the CML. However, it is clear from our research that there are still a large amount of borrowers who are totally unaware of their mortgage details and therefore are probably paying more than they need to.”
