Are you feeling low looking at the low interest rates other mortgage lenders are offering now? No worries, you don’t have to live with high rate mortgages and juggle with your mortgage payments. Remortgage is the right option for you, to break free from you high mortgage rates.
Two options are open to you, pick any one!
Either opt for a remortgage with your existing lender with whom you have your existing mortgage, and take advantage of the current low rates. Or else, opt for a different lender altogether, and refinance your earlier mortgage, use up the same collateral used earlier.
Be prudent while switching over from one mortgage plan to another or switch over to a different lender itself. As some lenders levy a penalty for switching over to another lender, so analyse the loan option, its terms and conditions before switching over to another lender. Avoid paying more over all. The idea behind your remortgage is to save on your interest rate.
It’s all about saving money by opting for a better mortgage deal. If you are paying an interest rate of say, 7.5% on a £100,000 loan you can opt for a remortgage, which charges you 7% , so this way you would be saving £31 per month. That is £372 a year or £9,300 stretched over a 25 year mortgage term.
Cheap Loans UK | Unsecured Loans | Bankruptcy Information | Cheap Debt Consolidation Loan
0 comments:
Post a Comment