How much can you save?

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There are literally hundreds of ways to save money and I’m not talking about sticking it in a high street account and earning 0-1% interest either!
Many homeowners that got on the property ladder before the crunch, while they may be losing value on their properties they are paying stupidly low mortgages, so really it has been offset and works out for the better.

How much can you save?

This is equivalent to £9,000 a year, or even more when interest savings are taken into account, which will help home owners maintain their equity as house prices fall.
The average interest rate on a tracker mortgage on July 1, 2007 was 5.98pc (0.48 of a percentage point above base rate, which then stood at 5.5pc), according to moneyfacts.co.uk, which collects financial information. A borrower whose entire mortgage repayment consisted of interest would therefore have been paying £996.67 a month.