We like remortgage freebies

For smaller remortgages, we like products with either low fees or no fees, free valuations, free legal costs and preferably no arrangement fee.

This is particularly important for people with smaller remortgages, because the costs of the deal are proportionately greater and can wipe out the benefits of a low headline rate. A small remortgage is considered to be anything below ?100,000, though this figure can vary. Likewise, it is more important on a two-year deal rather than a five-year deal, where the costs are spread over a longer period.

For larger remortgages, the headline interest rate on offer becomes more important than the fees.

· Ray Boulger is a mortgage adviser with independent broker Charcol, 0800-718-191