3 top tips on how to save on your mortgage

Read on and find out easy ways to save thousands of pounds on your mortgage.

10:20 01 June 2013

Mortgages are definitely one of the biggest financial commitments most people make. Making sure that you’re getting the best deal can help you save a substantial amount of money over many years.

  

Here’s how you can save money on your mortgage: 

 

• If you’re thinking about taking out a mortgage, the first thing you need to do is to make sure you’re getting the best deal available in the market. Keep in mind that different providers charge different fees. Do your research. Shop and compare. It may take some of your time but it can definitely help you thousands of pounds. 

 

• If you’re an existing borrower, see if you can have your mortgage refinanced especially if you’re paying high interest rates. Look for providers, which can offer you with lower rates. However, make sure that your current provider will not charge you penalty for doing so. 

 

• Check mortgage fees. Aside from your monthly payments, your provider will also charge you different fees for different services, which include valuation and legals, application, arrangement, etc. Take these into consideration when looking for providers and go with the one that charge the lowest fees.