Dont pay more than you need to for your mortgage. Theres almost certainly a far better deal out there than your current one. Maybe its time to get up-to-date with the new mortgage deals.
As far as your mortgage is concerned, you might be pleased to know that you can probably save an appreciable amount each month, by re-mortgaging. If youve been in your home for some years, you will have built up appreciable equity in it. You could re-mortgage to improve or extend your home, buy a second home, combine your loans, or just to save money.
More and more people are switching mortgages all the time, so whatever your reasons for considering this move, youll be in good company.
If youre on your lenders standard variable rate, you will probably be able to save around 2% on the interest rate by switching to a two or three year fixed term interest only loan. If your mortgage sum is around 100,000, this could save you in the region of 2,000 per year. Its true that there are expenses involved but with the latest mortgages and the number of lenders in competition for your business, you should be able to find a fee-free one who will be keen to help you to keep your...