There are a whole host of mortgage options, and this includes variable and fixed rates. The type a person goes to comes down to their own personal circumstances and financial situation,

however once a fixed-rate finishes, many will be automatically rolled onto their lender's Standard Variable Rate. The price comparison giant has found that these households could see

their monthly payments rise by up to £175 should they allow their mortgages to slip onto the SVR. According to Comparethemarket.com, it means these homeowners could end up paying around

£2,000 extra in interest each year. Miles Robinson, Head of Mortgages at online mortgage broker Trussle, commented: “Lapsing onto your lender’s Standard Variable Rate (SVR) could

copy of your original mortgage offer or call up your lender to find out. "You should review your mortgage three to six months before the end of your initial period to give yourself

enough time to find and switch to a new deal. "With interest rates at an all-time low it may be possible to secure these ahead of time so we are urging those looking to remortgage, to

start the process as soon as possible so they don’t pay more than they have to for any period of time.” Meanwhile, Mark Gordon, Director of Money at Comparethemarket.com, said of the current

mortgage market: “Before the coronavirus pandemic, the latest [Bank of England] data suggested how strong the property and mortgage markets were, with mortgage approvals at a six-year high.

"Within the space of a few weeks, this stance has completely changed. “With in-person valuations and property viewings unable to take place, we have seen some lenders stop offering

products to new customers looking for higher loan to value deals, so that they can focus on supporting their existing customer base and organise mortgage payment holidays. "The

government also took the unprecedented decision to stop all house purchase transactions, in effect, freezing the market. “The uncertainty of Brexit lingered over the housing market for

years. However, we’re confident that once this crisis is over we will see, hopefully, a quicker bounce back. "While it is going to be a tough and bumpy road to get there, we must

remember the foundations of the market remain strong. “While remortgaging isn’t at the forefront of people’s minds, understandably, for those coming to the end of their fixed rate mortgage

deal, it could be worthwhile looking around online to see what deals are still on offer and whether you could pay less. "Those on tracker mortgages, for example, are benefiting from the

latest Bank of England base rate cut to 0.1 percent - a record low in its 325 year history - with certain lenders now passing these savings on to customers.” Homeowners can find out how

much they could potentially save by remortgaging online, using an online calculator. This week, Trussle has shared its current best-buys for mortgage deals, accurate as of June 9, 2020.

REMORTGAGES (TWO-YEAR FIXED) TSB LTV - 80 percent Initial Rate - 1.74 percent APRC - 3.59 percent Monthly Payment - £746.94 Cashback - £300 Upfront Payment - £0 Total True Cost - £17,626.56

NEWCASTLE LTV - 80 percent Initial Rate - 1.99 percent APRC - 5.10 percent Monthly Payment - £768.84 Cashback - £750 Upfront Payment - £0 Total True Cost - £17827.16 LEEK UNITED BUILDING

SOCIETY LTV - 80 percent Initial Rate - 1.85 percent APRC - 4.80 percent Monthly Payment - £756.53 Cashback - £400 Upfront Payment - £0 Total True COST - £17,861.72 REMORTGAGES (FIVE-YEAR

FIXED) TSB LTV - 80 percent Initial Rate - 1.89 percent APRC - 2.90 percent Monthly Payment - £760.03 Cashback - £300 Upfront Payment - £0 Total True Cost - £45,301.80 TSB LTV - 80 percent

Initial Rate - 1.74 percent APRC - 2.90 percent Monthly Payment - £746.94 Cashback - £300 Upfront Payment - £995 Total True Cost - £45,511.40 HALIFAX LTV - 80 percent Initial Rate - 1.89

percent APRC - 3.10 percent Monthly Payment - £760.03 Cashback - £0 Upfront Payment - £0 Total True Cost - £45,601.80