Reconsider Your Mortgage Options

I spent two years writing about mortgages and financial news. It financed my career, and gave me a new niche to write about. It also gave me a new insight to mortgages. Since starting to write mortgage articles, I've cut my mortgage from 25 years to 18, without paying more each month.

One thing that many people don't know is that governments are now making the fixed-rate Mortgage more cost effective.

Responding to suggestions from the chancellor Alistair Darling that more long-term fixed rate deals be made available, the spokesperson admitted there was some demand for fixed rate mortgages.

"There is a reasonable consumer appetite for long-term fixed rate mortgages, if consumers are able to exit them more easily and at lower cost," she explained.

There has always been a demand for fixed rate mortgages, but it has always been costly to sign out if the interest rates dropped. I remember once I watched them drop enough that I could have saved $5000, but I never re-negotiated my mortgage, because it would have cost me about $3000. In the end, it wasn't worth the effort.