Mortgage customers paying £550 extra

Failing to shop around for a mortgage can leave homeowners paying an extra £550 a year, the Financial Conduct Authority has warned, estimating that around 1m are overpaying on their mortgage. The regulator said consumers struggle to find the best value among more than 7,000 mortgages on the market, and estimates that 30% of customers could have found a cheaper deal just as good as the one they agreed to.

Daily Mail (01/02/2019)