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.

---

Mortgage Brokers or Banks: Which is Right For You?

When you're looking for a home loan, you might work... Read More

What is a Fixed Rate Mortgage?

As the term implies, with a fixed rate mortgage the... Read More

What Exactly Is A Reverse Mortgage And How Does It Work?

A reverse mortgage is a certain loan that allows the... Read More

How to Utilize Your Cash Investment in Your Home

Have you ever noticed how hard it can be to... Read More

Securing a Cheap Home Improvement Loan

Finding a cheap home improvement loan can be a challenge... Read More

Is the Inverse Mortgage a Scam? New Program Promises Mortgage Payoff inside of 5 Years

If a mortgage could be paid off in five years... Read More

How to Get Cheap Home Loans with a Bad Credit

It's been years since you made any major improvements to... Read More

Understand a Real Estate Appraisal

Happy New Year. Make a difference this year. "Pay it... Read More

5 Things In Selecting The Best Mortgage - You Should Know

Your goal is not only to find the best rates... Read More

Rates May Be Rising: Mortgage And Refinancing Preparation Made Simple For You

Buying a home is probably the single largest investment most... Read More

This Secret Weapon Will Eanble You To Close Up To 200% more Home Remodel Sales

Many Homeowners are not aware of all the options that... Read More

Little Known Secret: Eliminate your Mortgage in 23 years or less!

Wanna know a little secret? There is an ingenious method... Read More

How to Compare Fixed Rate Mortgages and Adjustable Rate Mortgages

There are many types of mortgages, and the more you... 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

Need Mortgage? Alternative Finance Often Masks Predators, Who Want to Steal Your House

So, your bank had just turned you down for a... Read More

Kings Bay Saint Marys & Kingsland Georgia - Affordable Home Mortgages

Buying a home is usually the largest purchase any of... Read More

Some Mortgage Loans are Available with Absolutely no Money Needed From You

Today, FHA will loan up to 97 percent of the... Read More

A New Choice for Home Financing: Correspondent Lenders

When you begin your search for a new home loan,... Read More

Cash Out Refinance Mortgage Loans ? Home Equity, 2nd Mortgage or Cash Out Refinance Loan

There are some definite benefits to doing a cash out... Read More

Home Loan Lenders - Finding the Best Home Mortgage Lender

The process of obtaining a mortgage or home loan can... Read More

6 Things to Consider Before Refinancing

Perhaps you're a homeowner in need of some quick cash.Maybe... Read More

Home Loans

Buying a home remains the great American dream. Home ownership... Read More

2nd Mortgage Loan After Bankruptcy - Get Approved Online

A 2nd mortgage loan after a bankruptcy is possible in... Read More

Home Mortgage Loans For People With Bad Credit

Getting a home loan with bad credit has actually never... Read More

Which is Better? Fixed-Rate or Adjustable-Rate Mortgages

The answer depends on several factors including your financial situation.... Read More

Five Things Never To Tell Your Mortgage Lender When Facing Foreclosure

1. Never discuss your household finances over the phone with... Read More

Low Income Home Loans - FHA and VA Mortgage Loans Can Help You Get Approved

If you have low income and are looking to get... Read More

How a Commercial Mortgage Can Help Your Business

A commercial mortgage or commercial remortgage is a business loan... Read More

The Right Home Loan - Floating or Fixed Rate Loan

Choosing a home loan has never been tougher. Yes, with... Read More

Mortgage Advice To Make Mortgages A Really Smooth Ride

Mortgages are easy as long as you understand them well.... Read More

A Home Equity Loan ? Is It For You?

Home equity loans are often touted as being the solution... Read More

What Are Mortgage Brokers And Why To Use One

"Mortgage" is formed from two words: the French word "mort"... Read More

Online Mortgages in 5 Easy Steps!

We're all entitled to the opportunities and benefits of home... Read More