Pay for Christmas by remortgaging

HSBC's research shows that borrowers with most of Britain's biggest lenders could save up to £1,000 a year by moving their mortgage to HSBC, according to the bank. Commenting on the research, Adrian Murnaghan, head of mortgages at HSBC Bank, said: "Christmas can be an expensive time of year. According to research by First Direct, HSBC's telephone and internet bank, the typical Briton is likely to spend over £700 on Christmas this year. Yet thousands of people are unwittingly giving their mortgage lender the biggest Christmas gift of all - by paying up to £1,000 over the odds every year for their mortgage.