A
mortgage provider has launched a new campaign to reduce the amount consumers pay on their mortgages.
The One account states that as the summer season gets under way, Britons might be thinking about slimming down as they walk on the beach.
However, their
mortgages can be reduced too via the new 'Mortgage Shrinker', which is an online tool that calculates the degree to which
people can cut down their repayments.
This is done by calculating the amount to be saved on
interest borrowings in the
mortgage term and how much can be saved on a current account mortgage in comparison with a traditional mortgage.
Deborah Milsom, a spokesperson for the
lender, commented: "We know that many people who choose a
current account mortgage have a 'Eureka moment' when everything falls into place as they work out how it applies to their own set of circumstances.
"We think the 'Mortgage Shrinker' will help more people have their own 'Eureka moment'."
Recent
research from The One found that 30 per cent of
homeowners say they do not have the lifestyle they aspire to because their mortgages get in the way.
Furthermore, 40 per cent their fitness was suffering, while 30 per cent suggested they ate less healthily as a result of their mortgages.
Recommended links
Parents feeling mortgage pressure, study shows
Buy-to-let investment still strong, study shows
Mortgage lender releases guide for first time buyers
Mortgages reach record high
Get a no obligation mortgage quote
Mortgage Calculator
Introduction to Remortgages
Mortgage Information
Nationwide: Mortgage lenders still take advantage under FSA
Mortgage lenders selling more lifetime products
GMAC-RFC one of top ten mortgage lenders
Bulgaria and Romania could see influx of mortgage lenders, analyst suggests
HSBC warns about hidden remortgaging charges from some mortgage lenders
Mortgage lenders' activity highest on record
Mortgage lenders should offer negative equity cover, says expert
Bad credit mortgage lenders do not pass on interest rate increase
Council of Mortgage Lenders reports fixed-rate popularity
First time buyers put at risk by mortgage lenders, CAI claims
Council of Mortgage Lenders Scotland set to target affordability
Mortgage lenders' home insurance not necessarily best
Mortgage lenders report more mortgage activity
Lehman Brothers scope out mortgage lenders
Mortgage lenders dropping fixed-rate deals, financing study shows
Council of Mortgage Lenders predicts rush before Hips
CML: Mortgage lenders should work with brokers
BM: Mortgage lenders don't recognise technology benefits
Mortgage lenders turning down thousands per month
Mortgage lenders report slump
Mortgage lenders adopt customised affordability approach
Buy to let mortgage lenders could adjust criteria
Mortgage lenders urged to provide clearer mortgage paperwork
Financing analyst claims 100 mortgage lenders yet to alter rates
Mortgage lenders' council reports resilience
Mortgage lenders respond to FSA report
Online mortgages a threat to mortgage lenders, expert says
Mortgage lenders hike fees to slow remortgaging
Record January for mortgage lenders
More mortgage lenders offering extended-term mortgages, analysis shows
Record March reported by mortgage lenders
Mortgage lenders cut mortgage rates
Mortgage lenders raise rates
Council of Mortgage Lenders reports record February
Council of Mortgage Lenders reports huge mortgage growth
Building society welcomes Council of Mortgage Lenders figures
Mortgage lenders positive on exit fees, expert claims
Mortgage lenders respond to Budget
Experts warn mortgage lenders to change practices
Mortgage lenders and government help first time buyers
NandP wins business mortgage lenders award
Daily rates from mortgage lenders save money, says Halifax
Mortgage holders £10bn worse off, says mortgage lenders' council
Council of Mortgage Lenders welcomes government plans
Mortgage lenders have a green responsibility, expert claims
Mortgage lenders accused of charging unnecessarily
More repossession court orders by mortgage lenders
Mortgage lenders' gifts questioned in remortgage price war
Sub-prime mortgage lenders disagree
Mortgage lenders move to affordability, expert says