Mortgages Section

Egg Tops for Mortgages - No Way!

July 2005

Another day another award. This time the mortgage lender Egg came out tops in a survey of 35 mortgage lenders as to who offered the best value mortgage deal. There are however two major problems with this award;

Just 35 mortgages were tested against over 7000 products on the market, a sample of just 0.5%
The survey only compares standard variable rate mortgages. These days with most mortgage lenders offering discounted deals it's technically impossible for a SVR deal to win any 'best value mortgage' award

How Much Can a Discounted Mortgage Deal Save?

Assume a £60,000 mortgage
Discounted deals are at least 2% p.a.
That equates to around £100 a month saving just by remortgaging!
Summary: Talk to an Independent Financial Advisor if you're still on a SVR mortgage

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