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A question of interest

Interest rates remain at a level which most people would not have thought possible five, ten or twenty years ago. There are some very good discounted mortgage deals around, and it is often possible - if you haven't looked at your mortgage lately, and are paying perhaps a little more than you need to - to make a substantial saving with no risk at all. You don't have to move house to change your mortgage.

Even if you are "locked in" with a penalty clause on your existing mortgage, you may find that it is worth paying the penalty - together with the expenses of taking out a new mortgage such as arrangement fees and a survey - in order to make monthly savings on interest payable over the next two or three years. It's a bit like buying something that pays you income, only it pays you in reduced outgoings. The numbers can be confusing, but it's possible to compare remortgaging with other types of "investment" such as putting your money on deposit. In recent years, of course, almost anything would have been better than investing in the Stock Market...

If you think you might save some money by changing your mortgage deal, we can advise you.