Brits more concerned with holidays than mortgages

According to website Fool, the majority of Britons spend longer considering where to go on holiday than they do choosing a mortgage.

The site claims that the average person will spend twice as long selecting the right holiday but warned that many people are missing out on thousands of pounds worth of savings.

The warning comes as around 1.4 million borrowers approach mortgage renewal time and Fool wants Brits to spend longer shopping around for the most suitable mortgage deal.

"Who can blame people for wanting to spend more time planning their holiday than pouring over financial products?" said David Kuo, head of personal finance at the firm.

"But while a good holiday will recharge your energy levels for a few weeks, healthy finances can boost your bank balance for a lifetime.”

"By taking a bit more time considering such things as your mortgage, you could save up to £3,000 in one year to pay for the dream vacation you've yearned for but never quite been able to afford," he added.

The base rate of interest currently sits at 5.5 per cent, with the majority of analysts predicting a cut in February.

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