- Beware of penalties for switching.
- Watch out for insurances that eat up any money saved on the new mortgage.
- Make sure penalty payments don't go on after the life of a fixed rate or discount you're offered.
- Any new loan should be portable so you can move to cover a new home.
- Complain to the watchdog Financial Services Authority, if a broker tells you to cancel an endowment and take out a new one. It's known as "churning" and is strictly forbidden.
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