Are you one of the Millions of borrowers in the UK currently overpaying on your mortgage because you have unwittingly moved onto your lenders standard variable rate?
UK households are wasting £22 billion annually as a result of this.
Thanks to the historic low Bank of England Base Rate, five-year fixed rate loans are the cheapest they have ever been, on average below 3 per cent. These deals have the added attraction of carrying borrowers through the ups and downs of the Brexit process.
With savings rates so low it is worth considering an offset mortgage. These allow borrowers to use any savings to offset the loan amount and therefore pay less mortgage interest. You can use your emergency fund savings to reduce the interest you pay on the mortgage but still have access the money if you need it.