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Hot Topics
- What Happens If I Am Refused A Mortgage?
- If you are refused a mortgage it will be because you have a poor credit rating and/or a bad credit history.
- Where Can I Buy a Mortgage?
- Many, but not all financial services companies offer mortgages. If you are looking for a mortgage the traditional approach is to speak to you bank or a building society. However, you are most likely to find the cheapest deals by speaking to a Mortgage Broker.
- Can I Take A Break From Making My Mortgage Repayments?
- The ability to take a break from mortgage repayments is a feature of the Flexible, Current Account and Offset mortgages.
- What is a Fixed Rate Mortgage?
- A loan where the initial payments are based on a certain interest rate for a stated period and the rate payable will not change during that period regardless of changes in the lender's standard variable rate.
- What are Self Certification Mortgages?
- When you apply for a mortgage, the lender will require from you proof that you will be able to maintain the mortgage payments, and do not present a risk of non-payment for the large amount of money you are borrowing.
What Is A Remortgage?
‘Remortgage’ is basically the term for switching your mortgage to another mortgage lender.
It’s all about saving money, and that’s why people remortgage, because they have found a cheaper mortgage deal somewhere else. Remortgaging does not necessarily mean that you have to change your lender however, your lender may offer you a more attractive deal and you might stay with them – this is still remortgaging as it will be a new arrangement.
It’s always a good idea to look out for good remortgaging deals – even a 0.5% improvement in interest payments can result in large savings each year. Be aware however that you could be liable for a range of costs including set-up costs (including any high loan to value premium), ongoing interest charges and any changes, and redemption charges on your existing mortgage.
The good thing about remortgaging is that the process is a lot quicker than the first time around. Get all your paperwork ready including bank statements, salary details, existing mortgage statements and proof of identity documents and anything else you are likely to need – and you should have a new mortgage within four to six weeks.
If you are interested in saving money by remortgaging simply click on request a quote, complete the details and a mortgage adviser will phone you back to discuss your options and find you a great deal.
- How much can i afford to borrow ?
- How long are mortgages usually for ?
- How Do I Prove My Income?
- What happens if we have a join mortgage but one of us wants to leave ?
- How Is Interest Calculated On a Mortgage?
- Will I Have To Pay An Arrangement Fee And How Much Will It Be?
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