Dean Mirfin, business development director at Key Retirement Solutions, has advised that people who have taken out an equity release product should remortgage to make a “considerable saving.”

Mirfin said that the demand for such products is increasing despite the credit crunch, meaning that lower interest rates are obtainable through remortgage deals.

He said: “Remortgaging is simple. It is a good opportunity for consumers to review their circumstances as their needs and priorities may have changed.”

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