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Borrowers shun traditional mortgage – survey

Borrowers are shunning traditional style mortgages in favour of more flexible products, according to new research by Mori.


The Alliance & Leicester-commissioned poll of 2,000 people showed one in three respondents found mortgages allowing quicker pay-off the most attractive.


A&L mortgage manager Jill Butterwood highlighted borrowers were looking for mortgages with the flexibility to adapt to changes in lifestyle.


A&L press officer Michelle Pegley, said: “We&#39ve seen a five fold increase in customers taking flexible mortgages since the launch in September last year and expect flexibility to remain a popular feature in the future.”

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