The effects of the credit crunch are no reason for mortgage borrowers to remain on an uncompetitive rate, according to an expert.
Pauline McCallion, the editor of advice website Your Mortgage, has stated it is "always worth" looking around and thinking about saving money on mortgage repayments.
However, she added that it may not be as easy as people think to find a decent product or deal.
"A lot of banks and building societies have said they'll only be lending to certain types of customers and certain pools of customers," she explained.
"Some building societies have even restricted lending just to their own members - people who already hold current accounts or have a mortgage with them."
Recent research by Moneyfacts claimed that there are now 60 per cent less mortgage deals available in the UK compared to this time last year.
The study also found that of the 250 products available, only 68 of them are offered by the top ten mortgage lenders.
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