Re Mortgage Offers
This is simply the replacement of an existing mortgage with a
new one. People may do this to save money. This might be
possible by switching to another mortgage product with the same
lender or by switching their business to a competitor. Remember,
if they switch lenders, the saving they make on the interest
rate they pay may be partially or wholly eaten up by the
transaction charges associated with moving their loan.When
should I remortgage?
You should remortgage if a better mortgage deal is available
on the market, which will provide for a lower monthly payment.
You should however only switch if there are no penalties
attached to your mortgage for switching early
What are penalties?
Some Lenders hold borrowers into mortgage deals by including
penalties into the mortgage should the borrower wish to exit
earlier than expected from the mortgage loan. This can
happen when borrowers take fixed mortgages over several years
and the base mortgage rate drops, leaving the borrower paying
more than the market rates.
| ReMortgage |
Best 2 year FIXED below 75%LTV. No extended tie ins |
4.99% - 01/12/2009 |
More Info |
| ReMortgage |
Re Mortgage 75% and below with extended tie ins |
5.35% - 31/12/2009 |
More Info |
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