Mortgages prove to be toughest product to switch for third year

Tue, 11 Apr 2017

Mortgages prove to be toughest product to switch for third year
For the third consecutive year mortgages have been rated the most difficult product to switch, while home insurance provided the least hassle, according to GoCompare.com.

The comparison website conducted a survey, known as the "Switching Report", to discover which products are easiest and most difficult for consumers to switch for 2017.

Only 45 per cent felt that switching mortgages was easy, down noticeably from 2014 when 70 per cent said it was easy to switch mortgages. The next closest product is broadband provider, which 65 per cent of respondents said was easy to switch, just behind bank account (current account) on 67 per cent.

At the other end of the scale, 88 per cent said changing home insurance was easy, while 86 per cent said the same for car insurance, followed by gas and electricity suppliers with 79 per cent.

"Some products are clearly easier to switch than others but it is also true to say that some providers and sectors have embraced switching more than others," said Matt Sanders, head of money and protection at GoCompare.com.

"Switching enables you to take advantage of lower premiums, more favourable interest rates and lower charges, giving you the potential to save hundreds of pounds on a range of products and services.

"However, the right to easily shop around and take your custom elsewhere, is not one that is universally recognised by all providers. As a result, it can take a bit of effort to switch sometimes, but any hassle is usually greatly outweighed by the financial benefits," he continued.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.




mths

Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company

HomeBuyService.co.uk is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy
FAQ
Sitemap

Get in Touch