Manchester mortgage broker North Mortgages has implemented a new service to help homeowners save money on their home by remortgaging early.

The new Remortgage Reminder service prompts homeowners to begin looking for a better mortgage three months before the current mortgage deal is due to end.

North Mortgages’ chief mortgage broker, Jonathan Smith, said: “The economic climate is forcing home owners to review their outgoings.

“Most people regularly shop around for the best deal on car insurance, phone and utility bills but they don’t do the same research for their mortgage.”