With a large chunk of this year's Christmas expenditure heading for the plastic, mortgage brokers are advising borrowers to look into remortgage deals now so they reduce their mortgage repayments just as their credit card bills hit them early next year.

First Direct said that total spending on credit cards was 10.7 billion in December 2009. If this figure is similar this year, many families will face a debt ridden New Year and may struggle to get themselves back on an even footing financially.

By taking advantage of the remortgage deals currently available, monthly outgoings could be reduced and the freed up cash used to pay off the credit card balance.

For example, one major lender is currently offering a tracker remortgage deal at just 2.29% for the term with a 99 arrangement fee. There is a number of these deals around so speak with a mortgage broker to get the best possible deal. Whole of market mortgage brokers will have access to deals that are not available on price comparison sites or on the High Street, so they are the best people to turn to for the complete picture. They will also make sure you have a programme in place to cover repayments should your income fall or stop.

Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

Bower Mortgage Company: FSA regulated UK-wide mortgage advice from friendly, qualified, experienced mortgage planning specialists. Quality, face to face advice and a strong focus on building long term customer relationships.

Barry Smart is a qualified Mortgage and Protection Consultant working for Bower Mortgage Company: FSA regulated UK-wide friendly, experienced mortgage planning specialists. For money saving mortgage and mortgage protection advice, contact Bower on 0800 411 8668; e-mail info@bowermortgagecompany.co.uk or visit http://www.bowermortgagecompany.co.uk/