The Mortgage Monitor

JBEILBY

I am about six and a half years off completing my repayment mortgage with Britannia Building Society and wonder if it really is worth trying to find a better deal at this late stage since when the interest rate changes my monthly repayments only vary by a pound or two. I was told about the Mortgage Monitor's website (themortgagemonitor.co.uk) and wonder if anyone, like me with just a few years left to pay, has used their service and if so did they help???

MSE_Martin

I wouldn't bother with the mortgage monitor, many brokers will do this for free and call you back when your mortgage deal is ending. Alternatively you can simply call up a whole of market, fees free broker to get a review of your mortgage at no cost. So why pay £10

Martin

Ian_W

Agree with Martin [who would dare not to ] but the length of the term remaining is probably less important than the amount outstanding. Once the figure gets below £30K some lenders wouldn't want the business and as it gets lower the more fees, rather than the % int rate, affects the overall cost.
Still worth checking though and if you read the mortgage section of the site you can use a broker or put your figures through the linked comparison sites. Also you should check with Britannia to make sure you're on the best available rate rather than their SVR.
BoL.

JBEILBY

Thanks to you both for your help. I am now going off to check my Britannia rate!!