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According to advice site Unbiased.co.uk, one in five borrowers say they have held repayments at the levels they were before interest rates were cut earlier this year.

Tracker mortgages are currently at an historic low as interest rates have declined.

With the extra money borrowers do not have to put towards their mortgage payments, one in four are paying off other debts.

A total of 7% are letting their current account balances build up, according to the research.

David Elms, chief executive of the advice site commented: "Tracker and standard variable rate mortgage borrowers have watched interest rates plunge to record lows during this year, presenting an ideal opportunity to pay off their outstanding mortgage more quickly.

"Such action would enable many thousands of borrowers to take years off their mortgage repayment term, or enjoy a greater level of repayment comfort down the line, should the economy take longer to recover."

Meanwhile, a new report from PR firm Kreab & Gavin Anderson revealed 40 per cent of retailers believe spending on the high street by consumers with cash, debit and credit cards, will be an improvement on last year.

Written by Jack Ramsey

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9%
** 16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable). **
	Virgin Credit Card
	20 months	3 months	16.8%
** 16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable). **
	Barclaycard Platinum with BT
	22 months	3 months	17.5%
** 17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable). **
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