Mortgage holders should consider new deals in the new year

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by Kay Murchie

Cheshire Building Society is suggesting mortgage holders use the new year to shop around for a better mortgage deal to see if they can save themselves money.

A mortgage is normally the largest and most important financial commitment that people have so new deals should be considered carefully. In addition, administration and legal fees should be taken into account as well as interest rates said the Cheshire.

However, by paying such fees in advance, in the long term savings could be made concluded the building society.

Mike Naylor of price comparison and switching service uSwitch highlighted that ‘every penny counts’ so consumers should be aware of the cost of their credit as well as monthly interest repayments.