Discount rate mortgages too easily overlooked

According to new findings, many UK consumers are overlooking discount rate mortgages despite the fact that they often work out cheaper than their main rivals.

Findings from Mform.co.uk showed that the ten best two-year discount deals work out at an average of £70 a month less than the ten best two-year fixed-rate offers currently on the market.

A spokesperson for the group commented: "People who simply look at fixed rates to the exclusion of everything else are missing out on potentially good deals. The fixation with fixed rates is not necessarily healthy."