A Remortgage or Remortgaging

1:    Remortgages are available throughout the UK from many different financial institutions.

2:    Remortgaging is also known as Refinancing.

3:    By remortgaging a person can save a great amount in mortgage repayments.

4:    When remortgaging people can pay off one mortgage with a new one, often when switching lenders for a better rate.

5:    A remortgage can help to consolidate personal debt.

6:    There are few restrictions on what and how you can spend the funds from a remortgage.

7:    Remortgage can offer one new single repayment if used to consolidate other outstanding credit agreements.

The Disadvantages of a Remortgage

  • People must think carefully before securing any debt against a home, the home could be lost due to repossession if the mortgage repayments are not kept up with.
  • It is possible that the debts cleared when remortgaging can extend the period of the mortgage repayment.