Rate

BE a rate tart. That’s the tongue-in-cheek nickname given to serial re-mortgagers. These people flit from good rate to good rate – and they do very well out of it. Surveys constantly show that loyalty doesn’t pay in the mortgage market. If you start out on a lender’s best-buy discount rate, for example, then stay put long after the discount ends you will be paying way over the odds. The standard variable rates lenders charge their long-standing customers can be almost half as high again as the rates they offer new customers. If that’s how your lender is treating you then fight back. Be a rate tart yourself and re-mortgage on to a better deal.