Re-Mortgaging

Re-mortgages
Property values in the UK have risen dramatically over recent years, and this has resulted in many people having large positive equity in their properties.

There are many reasons for re-mortgaging, here are a few:-

Equity release Mortgages
Many people would rather use some of the value of their property. In the past the rules were stricter than they are today, and it is now possible to turn property equity into cash for any reason. Many release the equity to buy a second home, either in this country, or abroad as a holiday home. Be it money to make a purchase, or money to clear outstanding credit commitments, re-mortgaging is one of the most cost efficient ways of borrowing.

Lower repayments Re-mortgage
Mortgage rates are altering regularly, and the special deals are changing on a daily basis almost. While the deal you were offered when you took out your mortgage was good, then there is a fair chance that it is no longer the best suited deal for your current circumstance.


How likely is it that your current lender will write to you to offer a deal that will save you money, but cost them? not very is the answer for the best part. Once your initial term of offer ran out you will have reverted to the lenders standard variable rate of interest, and this is by no means the best deal on the market.

Shorten repayment term re-mortgage
By re-mortgaging your property at a lower rate, but keeping your repayment at the current level, you will effectively take time off the length of your mortgage, this is attracting a lot of attention lately, as more and more consider earlier retirement.

Flexibility
flexibility is a buzz word, there are many mortgages available that allow you to have flexible lending. In reality this is where the lender informs you of the maximum borrowing available, then issues you with a cheque book for you to write cheques against your property without having to ask for their approval (normally there is a £500 minimum per cheque). Flexible mortgages also can allow you to overpay, underpay, make lump sum repayments, all without penalty.

Lenders want your business, especially if you have never had no arrears over a period of time, and have equity in your property as it reduces their exposure. Mortgage remortgage refinance your home hoam loans mortgages, remortgages


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