“I would say with interest rates at such historic lows at the moment – we’ve just seen our first sub-one percent mortgage from Nationwide come through – so potentially now is a good time to fix in a low interest rate mortgage, if that works with your budget and your current situation.

“A fixed mortgage means you’re going to know exactly how much is going out each month which is a real blessing for many people so that can be really useful.”

Before making any decisions, Ms Owen urges our readers to speak to a mortgage broker so they can ensure they can get the best deal for them.

Remortgaging can seem like quite a complex process, but the potential savings means it’s something Britons may wish to consider.