It is important to remember that a mortgage is a long term investment and that larger savings will be made over time. Often there are fees involved for swapping your mortgage, so read the small print as large fees will reduce the savings you make.

Debt consolidation can be achieved, by combining a mortgage with your credit cards or loans. For example, if you take out a remortgage to cover the existing mortgage and other outstanding debts, potentially you could make a saving on the interest you are charged for your current debts.

If you just think you could get a better deal elsewhere and are unhappy with your current mortgage rate. You might be surprised at the saving you could make by having someone shop around for you.

In conclusion, there is the potential to save money by remortgaging, but remember to factor in the charges you will face for swapping policies.