Why do people
remortgage?
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| While many people are now starting to make the most of
switching to lower interest rates, it is estimated
that more than half of all borrowers are continuing to pay over the odds
for their mortgage each month. Switching to a cheaper deal can potentially
be an effective way for homeowners to save money.
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| With interest rates now starting to rise
steadily, some home owners are looking to obtain reassurance by arranging
a fixed rate for a few years. |
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| Other borrowers are having to decide how to deal with
projected shortfalls in their endowment policies, originally taken out
with the expectation that these policies would pay off interest-only
mortgages and provide a small lump sum on maturity. The endowments
are, in many cases, failing to meet these targets. |
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| As a first time buyer you probably didn’t know as much as
you’d have liked to when you took out your first mortgage. Even if you’re
already in your dream home, remortgaging could be the opportunity to find
yourself a better deal now that you’re more aware of what’s available. |
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| Relationship breakdowns are accounting for an increasing
number of remortgages, often with one of the couple having his or her name
removed from the deeds and the equity being transferred to the remaining
partner. Mortgage Experts have considerable experience in this field
and can advise on the range of options available to make the best use of
reduced household income to cover the new mortgage and related
commitments. |
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| Releasing money locked up in your house means that you
may be able to add value to your home in the form of a new kitchen, a new car, a new conservatory... |
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