Brits ‘confused’ about how best to remortgage

British homeowners are confused about what kind of mortgage arrangement will suit them best when their currently deal expires, according to recent research.

Figures from Abbey Mortgages have shown that around two-thirds of all the people it polled would be uncertain over what kind of home loan arrangement would offer them the best deal in the coming months and years.

With millions of homeowners struggling to become debt free, many people are uncertain about how any changes to the base rate of interest and the overall economic climate will impact their personal finances, Abbey has suggested.

Nici Audhlam-Gardiner, head of Abbey Mortgages, commented: “Depending on who you talk to there are different outlooks for the UK economy and for Bank of England base rates.

“This uncertainty leaves homeowners with a bit of a dilemma on their hands.”

The Consumer Credit Counselling Service recently suggested that people who use multiple forms of plastic to spend money often find themselves confused about how much credit card debt they have accumulated.