There are many benefits in choosing a remortgage, some of which are listed below.
A remortgage is changing your mortgage without moving your home.
Remortgaging is the process of switching your mortgage to another lender that is offering a better deal than your current lender thereby saving money.
A remortgage can also be used to raise additional finances by releasing equity in your property.
When you remortgage you are ending your old mortgage deal and switching to a new one. This normally involves switching your lender although you can sometimes change deals with your current provider. If you do remortgage with your current lender it normally involves changing your existing deal.
You can borrow from £25,000 up to £500,000. Rates are variable, depending on status.
Remortgaging can allow you to get a better rate of interest and reduce your monthly mortgage payments.
A remortgage allows you to consolidate existing loans to one manageable monthly payment or raise money to buy a new car or home improvements.
Homeowners who want to raise money for home improvements, buying a car or other purposes often find that a remortgage to raise the money is cheaper than taking out a personal loan or using credit cards. This is because interest rates on mortgages are amongst the lowest of all the different types of loans.
Homeowners may wish to raise money to consolidate other debts. By taking advantage of remortgaging your property you could transfer several debts into one more easily manageable remortgage.
This means you can replace credit card bills, personal loans and other loans with one lower interest rate remortgage and spread lower payments over a longer period.
It is important to note that there are costs attached to remortgaging such as redemption penalties. These need to be taken into account when you are considering a remortgage.
It is however worth bearing in mind that often the benefits of remortgaging can outweigh the costs involved.
You may freely reprint this article provided the author's biography remains intact:
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.
The process of obtaining a mortgage or home loan can... Read More
If you've got a few things around the house that... Read More
An offset mortgage is very similar to a current account... Read More
If you want a low interest, low payment mortgage refinance,... Read More
Buying your first home will likely be the biggest and... Read More
Home buyers are often confused about where to begin in... Read More
Are you one of a growing number of people planning... Read More
Tuition costs are climbing, housing costs are climbing, it seems... Read More
Choosing a home loan has never been tougher. Yes, with... Read More
Just because you have negative items on your credit report... Read More
As a first time home buyer, there are several things... Read More
What happened to the days of a 15 or 30... Read More
How To Release Equity Locked Up In Your Home For... Read More
Getting on top of your mortgage so you can pay... Read More
The best way to explain why a mortgage professional is... Read More
If you are a homeowner, you've probably received offers to... Read More
A problem that often arises when people try to refinance... Read More
There are numerous reasons a person has bad credit. Late... Read More
Online high risk home mortgage lenders specialize in offering loans... Read More
You're considering refinancing your home mortgage loan to save money.... Read More
So, you've found the perfect home. You've already decided where... Read More
Finding home loans can be a daunting task, whether you're... Read More
In days gone by, the family typically spent their evenings... Read More
What is a mortgage? Here's what The New Merriam ?... Read More
Are you thinking of buying a home? If so, then... Read More
A quickly growing trend in lending is the online homeowner... Read More
Finding a good lender to help you with refinancing your... Read More
One of the biggest reasons homeowners refinance their mortgage is... Read More
Shopping online for mortgages ought to be trouble free, even... Read More
The prospect of mortgage debt elimination is something that many... Read More
Homeowner - does this term catch your attention every time... Read More
Recent news has made much of parents stretching their finances... Read More
Buy-to-let took off during the 1990s with the increasing availability... Read More
What the average homeowner or home buyer fails to realize... Read More
When you begin your search for a new home loan,... Read More
In today's world, a borrower should not be paying mortgage... Read More
Current economic scene has hinted towards a fall in the... Read More
The financial stories remain similar over the months and the... Read More
At some point as you're writing out your rent check,... Read More
A house is just perfect with chipped walls and broken... Read More
There are many types of mortgages, and the more you... Read More
Simply stated, a reverse mortgage is a loan that enables... Read More
A few years ago, a loan officer who worked for... Read More
Using a home equity loan to get out of debt... Read More
"The ache for home lives in all of us, the... Read More
In other words, the benefit of the loan must outlast... Read More
Homeowner - does this term catch your attention every time... Read More
Many people fret the rising tide of interest rates. You'll... Read More
Many Homeowners are not aware of all the options that... Read More
Imagine this: you've found the perfect house, and feel lucky... Read More
Refinance home loan lenders are eager to lend money to... Read More
You have finally found the home of your dreams. You... Read More
An offset mortgage is very similar to a current account... Read More
If you in the process of looking for your first... Read More
Tracing back, the concept of reverse mortgages began when one... Read More
Interest rates are on the rise and many home owners... Read More
Applying for a home loan may not be the most... Read More
Borrowing against the value of your home using a revolving... Read More
Real estate prices are rising across the country, and Americans... Read More
Choosing the right home equity loan can be tricky; you... Read More
Money is like music, if managed well, produces a good... Read More
You may think that applying online for a mortgage is... Read More
Before you borrow money on your home's equity, think twice... Read More
Maybe you've heard the expert advice that your debt to... Read More
I don't know what the mortgage situation is around the... Read More
You are comfortably wedged in a mortgage deal, paying the... Read More
Mortgage Refinance |