MONEY Saving Expert founder Martin Lewis is urging everyone with a mortage to check the fine print - because they could be missing out on the deal of a lifetime.

Martin says new mortgage deals are at their lowest ever rates, with two year fixed-term deals down to just 0.95% and even five year deals at 1.17%.

The cause is ultra low interest rates and banks looking to loan cash built up by savers during the pandemic.

Writing on the MDSE website, Martin says: "The result is ferocious lending competition for the best customers. That means, for some, remortgaging - switching deal without moving property - can result in phenomenal savings."

But Martin says you've got to be quick: "The stamp duty deadline and house-buying boom means brokers, lenders and conveyancing solicitors are in massive demand. This means things are taking longer, sometimes months right now.

"Those on fixed or discount deals ending this year, beware. When they end you're usually bumped on to lenders' far more expensive standard variable rates (SVRs).

"To avoid that, you'll need to start earlier than normal, 3 to 6mths before it ends, particularly if you're self-employed or have complicated circumstances."

Read Martin's blog at MSE here