Mortgage Industry News

← Back

Home more important than appearance

Date: Tue, 19 Apr 2005

The average person is more concerned with their mortgage than their appearance, according to online and telephone bank first direct.

The bank's research found that 74 per cent of mortgage holders would prefer to knock ten years of their house loan rather than off their appearance.

Men at 76 per cent are only marginally keener than 72 per cent of women who want to take years off their mortgage rather than their appearance.

A total of 90 per cent of Welsh homeowners are interested in clearing their mortgage ahead of schedule, whilst 37 per cent in the East Midlands would rather improve their appearance.

However, the research also showed that around one in three people are unclear how they can reduce their long-term mortgage commitments.

Richard Kimber, first direct's chief executive said: "It's remarkable that so many more people would rather be mortgage free than wrinkle free.

"But it's unlikely to happen if they don't know what action to take to clear their home loan as quickly as possible."

© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.