One in 10 focused on mortgage savings

More than one in 10 people are planning to remortgage, pay-off or make over payments to their mortgage in the next 12 months, according to research from Clydesdale and Yorkshire Banks.

People in the Midlands are most likely to review their arrangements, with 17% planning to remortgage, make over payments or pay-off their mortgage compared to just 6% in the North East.

Steve Reid, retail director for Clydesdale Bank, said: "A mortgage is the biggest financial commitment that many people have and we welcome this research which shows that 11% of people in the UK are focused on their mortgage arrangements.

Non-movers

The research also highlighted that 51% of people are planning to stay in their current property for the next 12 months.

Almost a quarter (23%) are very settled stating that nothing would encourage them to move while a further 30% would only move out of necessity such as an addition to the family or change of job.

Those in the East appear to be the most content with 29% stating that nothing would encourage them to move compared to just 14% in Scotland.

Almost a quarter (24%) of people plan to improve or extend their property over the next 12 months.