Martin Lewis, 45, returned with his Money Show on ITV, and he focused on how to save huge sums on the mortgage.
Speaking about the rise in the base rate, Martin said: “UK base rates rose last month, but watch out as it is this month the rise feeds through to mortgages.
“The very cheapest deals are still near all time lows, at just over one per cent. But two million people are still stuck on standard variable rates, which can be four per cent.
“In nearly every case moving off this rate will save you thousands of pounds.”
Advising those concerned about remortgaging, Martin had some advice.
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One man asked him if he was refused for a mortgage product if he would lose his home, Martin advised: “No! Don’t worry, you will not lose your home for being refused a remortgage.”
Later, Martin met Rachel from Chesire, who was concerned about choosing between fixed or variable rates.
Martin advised: “We live in uncertain times, and that does factor in to any decision when buying a house. Fixed is the definition of certainty.
“By fixing, because you need surety of what you will pay, you get a good outcome. If you are worried, I would have look at what you can fix for five years.”
How to get the cheapest mortgage
Benchmark: Benchmark the cheapest price from your existing lender – fees will be lower. Do a price comparison and see what is out there.
How much are you borrowing: Look at your loan to value ratio. The cheapest rates come at 60 per cent loan to value ratio or below.
Mortgage broker: Approach a mortgage broker especially if acceptance is a problem for you. They have information about affordability criteria that aren’t available to the public.
Finally, Martin met Rob, who had a Lifetime Tracker mortgage. He didn’t know whether overpayments were better than reducing his mortgage term to pay it off more quickly.
Martin said: “If you have a shorter term, you have to make those payments and if you don’t you are in arrears.
“If you have a longer term, and you overpay, you pay exactly the same amount and it has the same effect, but if you suddenly have a time you can’t overpay, you’re not in arrears.”
Martin explained most lenders allow you to overpay 10 per cent of the outstanding mortgage without penalties – although you should check with your mortgage provider.