Where can I do my mortgage homework?

Q I have a mortgage with Abbey which I am tied into until early 2006. Can you please recommend a website where I can compare the deals offered by different companies in preparation for my remortgage in six months' time. I have a part repayment and part interest-only mortgage of £45,000, and am due to retire in 2013.

FY

A It's good that you're looking ahead as remortgages typically take a couple of months to sort out. But unless you simply want to familiarise yourself with the kind of mortgage deals that are available, it's probably not worth looking seriously until three months before you want to switch lenders. This is because most mortgage offers expire after three months so you can't arrange a new deal six months in advance. And with interest rates generally predicted to be coming down, even if you could arrange a new mortgage six months in advance, you would be better off waiting - especially if you are in the market for a fixed-rate deal.

You can see what kinds of deal are available by going to Moneyfacts or by visiting Moneysupermarket [Editor's note: Moneysupermarket also powers our own Compare and buy service]. If you are prepared to pay a £5 fee (refundable if you go ahead with a mortgage using the site), you can get a personalised shortlist of mortgages "to fit your needs and criteria" at John Charcol.

Although not web-based, an alternative is to use the free ratecheck service from mortgage broker London & Country by phoning 0800 9530304. This aims to identify a better deal than your current one and has the added advantage of double-checking that the new deal is still the most competitive in comparison with the rest of the market when you receive the offer but before you apply for it.