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Shopping around finds best remortgage deals, expert states
Thu, 11 Sep 2008
Homeowners who are reluctant to switch mortgage lenders might find themselves out of pocket, one expert has warned.

Stephen Noakes, marketing director at Cheltenham and Gloucester, explained that although there are less deals to choose from than this time last year, there are still a good selection of mortgages available.

However, if people feel they have no option but to stay with their current mortgage provider, then may miss out on the best possible deal.

"The concern there is that they may end up paying more for their new mortgage deal than they need to," he said.

People looking to remortgage should have access to a wider range of mortgages than others as they will have built up some equity in their property, Mr Noakes added.

Yesterday, research by the Council of Mortgage Lenders revealed the number of people remortgaging increased slightly in July when compared to the previous month.

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