NewswireTODAY - /newswire/ - Gateshead, Tyne and Wear, United Kingdom, 2007/05/24 - Customers of national financial advisers Moneygate are set to save a total of £1 million every month thanks to its groundbreaking active mortgage management service - MoneyGate.co.uk.

The company achieves these savings by employing a team of dedicated advisers that operate real-time systems to constantly hunt for the best mortgage products – a service not currently offered elsewhere.

There’s never been a better time to deliver this service as latest figures from the Council of Mortgage Lenders revealed that gross lending hit an all-time January high of £26.8 billion - up by 16% on January 2006 (£23 billion).

In contrast to this trend Moneygate are now aiming to save their customers £1million every month in mortgage payments over the next year.

Dennis Reed, commercial director of Moneygate, said: “We are not just in the business of getting people the best mortgage deal. We actively help them to reduce that mortgage to zero. Pension funds and investments are actively managed to ensure best performance – so why not mortgages?”

Under its active mortgage management plan customers simply pay a nominal one-off fee when setting up their mortgage and then receive the benefits of this service for life.

The end result of this unique approach means that many customers can often have their mortgage paid off sooner and save thousands of pounds in interest along the way – all of this at a typical cost of just £50 per year for a £100,000 mortgage on a 25-year term.

Moneygate’s advisers continually search for the best deals available, contacting the homeowner every time their current package can be beaten and recommending alternatives.

The new service will mark an end to homeowners leaving their mortgages languishing with the same lender for years – even when this means slipping on to paying the costly standard variable rate (SVR) each month. For while a mortgage is the biggest expenditure most people make in a lifetime, many hunt around for the best rates when first setting it up and then simply leave it.

Dennis Reed added: “A lot of people know they should be getting a better deal but sometimes simply the pressure of leading a busy life means that many months and sometimes even years can go by before they get on the case.”

”But we are here to fix that – to do all the legwork of looking for a better product and constantly keep on top of every mortgage to ensure it is in the right place at all times.

“That really is the core of what we do – constantly securing the best products possible to give our customers the most cost-effective way to pay off their mortgage as quickly as possible.”

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