Britannia reveals loyal mortgage borrowers expect rewards

29 April 2005
Research from Britannia Building Society has revealed that 65 per cent of British homeowners expect to be rewarded by their mortgage provider for their loyalty.

If the borrower does not feel valued, Britannia found, then he or she is very likely to switch provider.

With this in mind, Britannia has issued tips for mortgage holders looking to ensure they get the rewards they feel they deserve - and change provider if they do not feel they are being treated well.

Borrowers should ensure that any special offers and new deals are available to them as existing customers as well as newcomers, and ensure their rate is competitive and flexible, the building society advises.

Mortgage holders can also check what other benefits they get from their mortgage company, make sure their interest is calculated on a daily basis and shop around for buildings insurance.

"Moving mortgages is a growing trend, as it becomes easier to do and is more widely promoted," comments Tim Franklin from Britannia.

"Some lenders offer special offers too, so that homeowners can sometimes make a switch with minimal cost to themselves and with a large cost saving overall. Customers are now much more knowledgeable about the options available to them."

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