The mortgage market changes all the time - interest rates fluctuate and mortgage lenders adjust their prices. To avoid paying higher rates, most borrowers switch their mortgage, a simple process that involves transferring from one mortgage loan to another. Switching your mortgage need not be complex, and the main reason to switch is to save money. The idea of switching mortgages can seem daunting for some. It shouldn't be - and that's where our guide to switching your mortgage should help to explain the process and allow you to switch your mortgage should you choose to. When special mortgage deals (such as a fixed-rate mortgage, a variable rate mortgage or a tracker mortgage) come to an end, mortgage loans revert to Standard Variable Rate (SVR), which is usually higher and more expensive in monthly repayments.
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