Financial institutions are battling for market share. The
mortgage market appears more akin to sheep stealing as new
buyers struggle to get on the property ladder. So, banks and
building societies resort to enticing customers to switch
provider by re-mortgaging.
Let’s consider the case of the chap with a few years to run
on his mortgage. His broker proffers a deal that will save
just enough against his existing arrangements to make it worthwhile
going through the typical pain associated with taking out
a mortgage.
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