Your mortgage is probably your biggest outgoing. Even in today’s wobbly economy, remortgaging can save you an enormous bundle of cash… potentially £1000s. Did you know that every 1% you shave off a £100,000 mortgage can save you as much as £80 a month, depending on your original interest rate? That’s £960 a year.

Obviously lending is still slow and you might have to shop around carefully to find a mortgage provider. But as long as your credit rating is OK, you’re in regular work and you haven’t had any problems repaying your current mortgage, you ought to be able to switch. 

Here’s a few tips:

  • dig out all your mortgage paperwork before you start so you’ve got everything you need handy
  • try your current mortgage provider or bank first. Do they have a new or better mortgage product you could switch to?
  • use comparison websites to track down the best deals…
  • …or find a good independent financial adviser (IFA) who has whole-of-market access, ie. who can choose from the entire mortgage market, not just the products of a single mortgage provider
  • make sure your IFA is fee-free ie. doesn’t charge fees to find or arrange your new mortgage 
  • ask around friends, family and colleagues - word of mouth is an excellent way to find a good IFA
  • ask around to find a good, fast, low cost conveyancing solicitor
  • take your time. You’re not buying  a new home and you’re probably not in a rush, so make every effort to snag the best possible deal

Saving almost £1000 a year leaves you with spare cash for a big treat. Use our home discount codes and holiday discount codes to cut the costs of the big stuff even more!