Martin Lewis has explained how homeowners can find the cheapest mortgage deals during an “emergency” edition of his ITV show.<br /><br />The MoneySavingExpert urged Britons to avoid moving onto a standard variable rate, if possible, after rates reached a 15-year high.<br /><br />He introduced a three-step guide on Tuesday’s episode of The Martin Lewis Money Show and told homeowners the “crucial” thing to know is their loan to value - the proportion of their home’s current value that can be borrowed.<br /><br />“Most importantly for everybody out there, you need to know when you will move to the standard variable rate,” Mr Lewis said.<br /><br />“You don’t want to be on a standard variable rate if you possibly can, you want to get off that, so you need to know when you’re going to be moved to that.”
