Martin Lewis has issued a guide on his Money Saving Expert website that could save people hundreds of pounds each month.
The finance guru has been keeping his many followers up-to-date with the latest news as the cost of living crisis worsens. The MSE founder is known for his switching and money-saving tips, but recent events have left even him at a loss as how to help people.
Earlier this week, Mr Lewis shared a guide to remortgaging homes. "Get it right", he said, "and you could save £100s a month."
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However, he also added that remortgaging is not for everyone. Sixty-two pages in length, it is worth a comprehensive read of the guide before making any decisions. But for those who want a quick overview, Mr Lewis said: " If your mortgage is your single biggest expenditure, cutting its cost is likely to be your biggest single MoneySaver."
He added: "The biggest reason is to save yourself some serious money, but it's not the only one. And remember, it's not about the best deal out there – it's about the best deal for you."
Some of the reasons you may want to remortgage include saving money, "especially if you're on your lender's standard variable rate". It could also be an option if your mortgage doesn't fit you any more, or you want to borrow more but your current lender won't let you.
Remortgaging may not be for you, the guide says, if you're already on a great deal, or if remortgaging means paying expensive early repayment charges. Other reasons are listed in the guide - which you can read in full here.
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