Consumers are expected to spend 615 this Christmas, leading Bradford & Bingley to urge home owners to offset the cost by remortgaging onto a competitive deal.
B&B says home owners currently languishing on their lenders standard variable rate could save around 150 a month 1,800 a year by moving onto a market-leading deal (based on a 100,000 mortgage), more than compensating for the festive flurry.
To help home owners with the cost of Christmas, B&B has launched a range of remortgage deals, designed to meet different customer needs, all with cashbacks.
Duncan Pownall, mortgage development manager for Bradford & Bingley, says: Moving from your lenders standard variable rate onto a competitive deal is advisable at any time, provided any early repayment charges do not make it uneconomic to do so. However, around Christmas time, with all the associated expenses, it makes perfect sense. That way you really can have a happy New Year without the usual financial headache.
Our remortgage range is ideal for all types of borrowers whether theyre after a fixed or variable rate product. Not only do they have competitive interest rates, with free valuation fees and free legals, but they also have the added bonus of cashbacks. These cashbacks are great for borrowers whether they want to use the money to help pay for the Christmas excess, save it or put it towards home improvements.