Many homeowners paying a standard variable mortgage rate (SVR) with a decent credit score and 10%+ equity, can ditch their mortgage and save by getting a new one.
Thousands of West Bromwich mortgage customers are due a share of £2 million after the building society admitted it had charged too much interest on some accounts nearly a decade ago.
Anyone looking to get a mortgage will have to have their finances scrutinised more closely from tomorrow under new rules , meaning some may find it harder to get a mortgage.