have until the end of this month to re-examine their policy, which will also apply to past customers.

The strength of the UK's economy increases the chances of another interest rate hike this month, a new report has claimed.

A study by accountancy firm BDO Stoy Hayward incl

Remortgaging could save homeowners money and even protect them against future interest rates rises, said Harvey Jones writing for the Guardian.

The recent hikes in the cost of borrowing 0.75 per cent since August will have motivated many households to swap their mortgage, which could save them hundreds or thousands of pounds.

According to Mr Jones, some homeowners are saddled with 7.25 per cent standard variable rate (SVR) mortgages, despite the fact that some of the best deals start at around five per cent.

"If you have a 150,000 capital repayment mortgage, remortgaging from the SVR to a best-buy deal could cut your monthly repayments from around 1,090 to 890. That's a monthly saving of 200, which adds up to 4,800 over two years," he calculated.

However, he warned re mortgagors to watch out for expensive exit fees and pointed out that some lenders have even been increasing penalties for homeowners after they have signed up for a particular deal.

The good news for borrowers, though, is that the Financial Services Authority is cracking down on inflation-busting exit fees. Lenders have until the end of this month to re-examine their policy, which will also apply to past customers.

The strength of the UK's economy increases the chances of another interest rate hike this month, a new report has claimed.

A study by accountancy firm BDO Stoy Hayward inclu

which could save them hundreds or thousands of pounds.

According to Mr Jones, some homeowners are saddled with 7.25 per cent standard variable rate (SVR) mortgages, despite the fact that some of the best deals start at around five per cent.

"If you have a 150,000 capital repayment mortgage, remortgaging from the SVR to a best-buy deal could cut your monthly repayments from around 1,090 to 890. That's a monthly saving of 200, which adds up to 4,800 over two years," he calculated.

However, he warned re mortgagors to watch out for expensive exit fees and pointed out that some lenders have even been increasing penalties for homeowners after they have signed up for a particular deal.

The good news for borrowers, though, is that the Financial Services Authority is cracking down on inflation-busting exit fees. Lenders have until the end of this month to re-examine their policy, which will also apply to past customers.

The strength of the UK's economy increases the chances of another interest rate hike this month, a new report has claimed.

A study by accountancy firm BDO Stoy Hayward incl

ayment mortgage, remortgaging from the SVR to a best-buy deal could cut your monthly repayments from around 1,090 to 890. That's a monthly saving of 200, which adds up to 4,800 over two years," he calculated.

However, he warned re mortgagors to watch out for expensive exit fees and pointed out that some lenders have even been increasing penalties for homeowners after they have signed up for a particular deal.

The good news for borrowers, though, is that the Financial Services Authority is cracking down on inflation-busting exit fees. Lenders have until the end of this month to re-examine their policy, which will also apply to past customers.

The strength of the UK's economy increases the chances of another interest rate hike this month, a new report has claimed.

A study by accountancy firm BDO Stoy Hayward incl

e exit fees and pointed out that some lenders have even been increasing penalties for homeowners after they have signed up for a particular deal.

The good news for borrowers, though, is that the Financial Services Authority is cracking down on inflation-busting exit fees. Lenders have until the end of this month to re-examine their policy, which will also apply to past customers.

The strength of the UK's economy increases the chances of another interest rate hike this month, a new report has claimed.

A study by accountancy firm BDO Stoy Hayward incl

have until the end of this month to re-examine their policy, which will also apply to past customers.

The strength of the UK's economy increases the chances of another interest rate hike this month, a new report has claimed.

A study by accountancy firm BDO Stoy Hayward includes the prediction that inflation in the second quarter of 2007 will remain at 2.9 per cent, with inflationary pressures coming from the service sector and oil prices.

"The latest business trends report reveals a tough decision for the monetary policy committee (MPC) this month," said Peter Hemington, a partner at the firm.

"They have a choice of tackling inflationary pressures head on with a further rate rise in February, or gambling by taking a 'wait and see' approach in the hope that inflationary pressures will decline in the first quarter of 2007."

Mr Hemington said the firm believes that the MPC will take advantage of the fact that the economy can currently absorb another rate rise by raising the cost of borrowing this month.

Minutes of the last MPC meeting shows that the panel was split 5-4 on the decision to increase the base rate in January the closest vote since August 2005.

The National Association of Estate Agents condemned the move as "premature and extremely disappointing", partly because the rate-setting body failed to factor in regional differences in the housing market.