Stress is everywhere. It’s in the drive each day as we commute to work. It’s there as we shop and pay for food at the grocery store. It’s present as we help family members make important choices about how to live, where to work, who to date/marry, and so on. Stress is present everyday and sometimes for some people, it’s there every hour. Recently, a survey was completed regarding mortgage lending and stress, and guess what, stress is present in that space in massive amounts.

House buying and obtaining mortgage lending is quite stressful. A recent survey confirmed this and where the root of the stress with mortgage lending originates. The survey discovered 25% of all borrowers experienced great stress during the last time they went through the mortgage lending process.

One highlighted note regarding the survey was the amount of stress encountered during the phone call phase of the process. Many within the survey felt triggered during the phone call moments and preferred to conduct the process online.

Remortgage brought on more stress according to the survey. Many house owners who were able to remortgage after their original loan matured remained with the lender for six months and paid the monthly mortgage payment on the standard variable rate. This forced many to pay as much as £1,621 more than what was necessary by remortgaging and potentially obtaining a lower interest rate.

The age group most affected by stress within the survey was the 25-34 group. This group is in fact the age group most likely to also seek out and obtain remortgage in order to alleviate that stress through obtaining a lower mortgage payment.

New tools are now in place to help lower the amount of stress which can accompany the mortgage lending process. Taking advantage of algorithms which are available can make a difference. These algorithms alert a house owner to potential new deals which can help save money on their mortgage. This, along with the ability to obtain lending online, can together improve the lending process and lower the stress level overall for anyone looking to purchase property.