Borrowers encouraged to look around for best mortgage deal

People in the UK are being encouraged to look around for the best mortgage deal on offer in order to improve their "financial fitness", according to Abbey.

The bank has said that reviewing aspects of consumers'' personal finance such as their mortgage can make a big difference to the amount of money that they spend each year.

Nici Audhlam-Gardiner, head of mortgages at Abbey, said: "A mortgage is probably the biggest outgoing that some people have so they really should be spending the time to understand when it''s coming up for renewal and then making sure that they''re on the best
rates that they can be."

She added that keeping personal finance in order is all about discipline "in the same way that you can be physically disciplined if you decide to get physically fit".

The bank also advised people to take a look at their credit cards and home insurance in order to see if they can save money.

Abbey is one of the largest providers of mortgages in the UK.

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