Remortgage When Interest Rate Drop

February 22, 2008

I read at a website regarding the Bank of England cuts interest rates. It makes me thinking to Remortgage my house mortgage. My currently mortgage was signed at 5 years ago. The current interest rate that charged is more expensive than the interest rate I saw in some of the mortgage offer. I wonder is now the time to think of remortgage and get the lower interest rate or not. I think I have to do some calculation and see how much could I save with the lower interest rate. I have to make sure the interest money that I save is able to pay for the remortgage legal fees.