In short – no you don’t, however, when moving house, we suggest looking at both your existing deal and a new deal with a new lender. You can compare the two and work out which is better for YOU.Adding up the fees associated with taking out a new mortgage, such as a product fee, and then comparing it to the cost of leaving your existing mortgage can help you identify which is the better option.You may find the additional fees cost less than the extra interest you would pay with your current mortgage. Equally, you may find it is much more cost effective to stay with your current deal.