Mortgage and Refinancing Information Channel:
We would like to thank the local libraries, schools, and universities for recommending students to visit us when doing research on any of our information topics.
Guide to Remortgages
Here is a useful guide to remortgages. What is a remortgage? A remortgage is when the terms of the original mortgage are renegotiated, and usually means that the borrower increases the amount that they are borrowing, which is often possible due to a rise in the value of the property.
A remortgage is simply the act of paying off your current mortgage and taking out a new one. Many people do not realise that they are able to do this and so are losing out on low interest rates. By remortgaging your home, you could save significant amounts on your monthly payments.
Remortgaging is changing mortgages without moving home. It is the process of changing your mortgage for a better rate, or to release some of the equity in your home, or to consolidate your debts. Getting a remortgage involves ending your current mortgage scheme and moving to a new one.
A remortgage is the process by which you change from your current mortgage to a new mortgage. A remortgage generally involves changing mortgage lenders because most lenders do not generally offer remortgage schemes to existing customers.
The remortgage usually will involve a fresh survey of the property taking place, and an updated valuation of the property, which will take into account any changes in value due to home improvements, or due to fluctuations in the local or national property market.
A remortgage can be used for the purpose of gaining lower interest rates on your mortgage or raising finance through releasing equity.
A remortgage is a great way of saving money, as it is likely to lower your mortgage interest rates. A mortgage is also one of the cheapest forms of loans around, so if you're looking to raise finance, it makes sense to remortgage your home.
Releasing equity is a good way of raising additional finance. If your home has positive equity - its market value is greater than the outstanding mortgage - you can increase the size of your mortgage.
A remortgage may allow the homeowner to repay other debts such as credit cards, personal loans or it may be a way of paying for home improvements such as a new extention, conservatory or loft conversion.
When choosing a new lender for your remortgage, make sure to find out whether the lender offers free valuation, set up fees or that they pay for the legal fees.
A remortgage should be considered for a variety of reasons:
low interest rates - a remortgage can allow you to gain a better rate of interest and reduce your monthly mortgage repayments.
debt consolidation - a remortgage can allow home owners to consolidate their existing debt into one manageable monthly payment.
raise finance - a remortgage allows home owners to raise finance. As its interest rates are among the lowest of all loan types, a remortgage is an ideal solution to finance issues.
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.
MORE RESOURCES updated Thu. September / 24 / 2020
Refinancing Your Mortgage Is About to Get More Expensive The Wall Street Journal
Mortgage and refinance rates today, September 24, 2020 | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage and refinance rates today, September 24, 2020 | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
How to refinance your mortgage in 5 easy steps Fox Business
A record number of borrowers can now save on a mortgage refinance, as rates set another historic low - CNBC
A record number of borrowers can now save on a mortgage refinance, as rates set another historic low CNBC
Mortgage lenders are adding the refinancing fee. You can still avoid it if you act now. - Bankrate.com
Mortgage lenders are adding the refinancing fee. You can still avoid it if you act now. Bankrate.com
How to refinance your mortgage without closing costs Fox Business
How often can you refinance your mortgage? Fox Business
Mortgage and refinance rates today, September 15, 2020 | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage and refinance rates today, September 15, 2020 | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Refinance your home before December 1 to avoid paying a new fee Business Insider
How and Why to Refinance Your Mortgage: A Step-By-Step Guide ActionNewsJax.com
Mortgage Refinance Calculator Clark.com
How to Lower Your Monthly Mortgage Payment: Guide Credible News
Should I refinance my mortgage? A financial planner explains Business Insider
When Should I Refinance With a No Closing Cost Mortgage? Clark.com - Clark Howard
Jump in U.S. Mortgage Refinancing Point2 Homes
Clark Howard’s Special Rule for Refinancing Your Mortgage Clark.com - Clark Howard
15-year mortgage rate hits new record low Bankrate.com
Coronavirus is driving a home renovation boom: Most popular projects, plus financing tips - Bankrate.com
Coronavirus is driving a home renovation boom: Most popular projects, plus financing tips Bankrate.com
What to consider when retiring and refinancing your home Washington Post
Refresher on The New Refi Fee and Its Effect on Mortgage Rates Mortgage News Daily
Millennials drive huge VA home loan refinance boost in Hampton Roads - The Virginian-Pilot - Virginian-Pilot
Millennials drive huge VA home loan refinance boost in Hampton Roads - The Virginian-Pilot Virginian-Pilot
Record number of banks offering cashback of up to $4000 for moving your mortgage, but is it worth it? - 9News
Record number of banks offering cashback of up to $4000 for moving your mortgage, but is it worth it? 9News
Seven Out of 10 Homeowners Who Research Refinancing Get Unwanted Sales Pitches: Survey - Credible News
Seven Out of 10 Homeowners Who Research Refinancing Get Unwanted Sales Pitches: Survey Credible News
United Shore seeks to outpace Rocket in mortgage war The Detroit News
What You Should Know About Non-Bank Mortgage Lenders The Motley Fool
Homeowners Are Gaining Equity. Here's Why That's a Good Thing The Motley Fool
Mortgage refinance: Everything you need to know Fox Business
The Median U.S. Home Value Has Reached a Record High -- and That's Bad News for Buyers - The Motley Fool
The Median U.S. Home Value Has Reached a Record High -- and That's Bad News for Buyers The Motley Fool
How to get the best mortgage refinance rates Fox Business
10 things to know before refinancing your mortgage Fox Business
Mortgage Associate Charlotte Agenda
When should you refinance your mortgage? Fox Business
Compare Today's Mortgage Refinance Rates: Sep 23 Credible News
How to get a low-cost mortgage refinance Bankrate.com
Mortgage refinancing is about to get more expensive Pittsburgh Post-Gazette
How does mortgage refinancing work? Bankrate.com
Refinancing Your Mortgage? Those Rock-Bottom Interest Rates Aren’t for You - The Wall Street Journal
Refinancing Your Mortgage? Those Rock-Bottom Interest Rates Aren’t for You The Wall Street Journal
Should you refinance your mortgage? Tennessean
Mortgage refinance applications spike 79% as homeowners rush to take advantage of lower rates - CNBC