Brits have been urged to spend more time researching mortgage deals after a new poll found that many people take longer to book a holiday than select a financial product.

According to personal finance website Fool.co.uk, 36 per cent of adults devote a minimum of ten hours to finding the perfect holiday but just 21 per cent would spend that long searching for a mortgage.

It pointed out that by failing to shop around, people could risk missing out on the significant savings that they could make if they compared a number of different products.

David Kuo, head of personal finance at Fool.co.uk, commented: "Who can blame people for wanting to spend more time planning their holiday than pouring over financial products?

"But while a good holiday will recharge your energy levels for a few weeks, healthy finances can boost your bank balance for a lifetime."

Many borrowers are coming off fixed-rate deals and finding that they are faced with higher monthly payments, making it especially important that they look at all their options before committing to a new product.