Benefits of a Remortgage

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.

---

Is It Time To Buy A House?

At some point as you're writing out your rent check,... Read More

Home Loan Confusion Continues

Unfortunately, most Americans still do not understand how home loans... Read More

Refinancing Mortgage Loan - Get The Lowest Interest Rate You Can When Refinancing

Refinancing can be a very simple process. You fill out... Read More

Bad Credit? With Poor Credit You Can Still Refinance Or Get A Home Equity Line Of Credit

Have you decided to refinance your home or apply for... Read More

When Not To Agree To A Home Equity Loan

Before you borrow money on your home's equity, think twice... Read More

Reverse Mortgages: When Is One Right For You?

How do you know if a reverse mortgage is right... Read More

Mortgage Tips For The Frantic

It is a curious fact of human nature that people... Read More

Why Refinance Back into a 30-Year Loan?

One of the biggest reasons homeowners refinance their mortgage is... Read More

Commercially Viable Commercial Mortgages

Commercial mortgages are similar to residential mortgages. Usually taken by... Read More

Mortgage Prepayment Penalties - Just Say No

One of the most common terms found in a new... Read More

How to Secure the Best Mortgage Deal and Save Yourself Thousands in Interest

When you consider that the average home owner will pay... Read More

Securing a US Commercial Mortgage

What's the most efficient way to secure a US Commercial... Read More

What the Bank Won?t Tell You About Mortgage Refinancing

So you have a mortgage, and you need to refinance... Read More

Home Construction Loans

You can maximize your savings by shopping for a lender... Read More

Buying A Home? Reasons to Consider Financing Your New Home Loan Online

Financing your new home loan online can save you time... Read More

Kippers or Red Herrings?

Recent news has made much of parents stretching their finances... Read More

Tips for Finding the Best Agri Mortgage and the Best Agri Loan

The Research Rates of Agri MortgageFirst thing, when finding an... Read More

Stop Foreclosure - 7 Tips to Save Your Home

Faced with the threat of a foreclosure on their home,... Read More

Home Loans For People With Poor Credit - Understanding The Requirements For a Subprime Mortgage

Home loans for people with poor credit demand that you... Read More

Why Its Important to Get Pre-Approved

Having a pre-approved mortgage will give you the confidence of... Read More

Refinance Benefits - Refinancing Could Save You Money

The most common reason most people refinance is to save... Read More

Mortgage Broker or Assassin? A Banker Who Offers You This Loan May be Trying to Kill You!

What if a banker or mortgage broker told you he's... Read More

Biweekly Mortgage

The biweekly mortgage has been around for years but with... Read More

Why Refinance Back into a 30-Year Loan?

One of the biggest reasons homeowners refinance their mortgage is... Read More

How Homeowner Can Save Their Home From Foreclosure

Drive around and see how many signs you see that... Read More

Poor Credit Mortgage Reigns High Among Mortgages Available to Bad Credit Borrowers

Like a big brother keeping notes of the erring behaviour... Read More

Uk House Price Increases Take A Summer Holiday

Property website Rightmove has released its latest house price index... Read More

Looking for a Bad Credit Home Improvement Loan

To make needed repairs to your home without the advantage... Read More

Subprime Mortgage Lenders - Helpful Tips When Getting a Subprime Mortgage Loan

If you have bad credit history, no down payment or... Read More

Secured Loans ? Making the Most of Your Home as Collateral

My visit to the lender was interrupted with my wife... Read More

Best Buy to Let Mortgages

Are you looking for the best buy to let mortgages... Read More

Home Equity Loan Risks

Home equity loans give individuals a tool to extend their... Read More

Refinance After Bankruptcy

Refinancing your mortgage after bankruptcy is actually the same as... Read More