Thousands of homeowners could face crippling increases in their mortgage payments as UK banks tighten their acceptance criteria following the recent sub-prime crisis.

Borrowers nearing the end of their fixed rate mortgage deals who have what was considered, until very recently, a minor blemish on their credit records may find their credit rating has been reclassified, placing them in a high-risk category.

Being classed as ‘credit-risk’ may result in significantly higher interest rates and subsequent monthly payments when looking for a new mortgage.

So if the introductory term of your mortgage is due to end in the next 3-6 months we would recommend that you review your mortgage options now before it becomes even more difficult to remortgage.

We're offering a free Mortgage Health Check to all borrowers who are concerned how the recent developments in the sub-prime market will affect their mortgage repayments.

By completing one of our forms, we will look into your current mortgage arrangements to establish if it is a good time to move your mortgage. If it is cost-effective for you to remortgage, we will advise you - if not, we will not advise you to remortgage unnecessarily and you won't be charged a penny!