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Why Remortgage

15 Reasons why you should re-mortgage.

1.       Itís getting too much you simply want to reduce your monthly outgoings each month.

2.       To consolidate your existing loans, Credit cards into one monthly affordable payment and with the right mortgage still have the opportunity to have your liabilities paid in your chosen term.

3.       There is a saying in America that ďYou havenít lived unless you have been made bankrupt at least 3 timesĒ. Well I certainly do not suggest you get yourself into that financial position but you may have had or have a poor credit rating and you are currently paying an exorbitant amount for your mortgage each month.

4.       You might be looking to raise capital for that once in a life time holiday or your big wedding day. You may be trying to find an alternative and quite often cheaper ways to financing your new car, motor home or boat. Look no more?

5.       You might have an Endowment Mortgage and perhaps your repayment vehicle (Your Endowment) is not on track to meet the mortgage. Indeed you might have an Interest Only mortgage. At the end of the agreed term of your mortgage your lender will be asking for their money. How are you going to pay for it? You could use your savings or take out another loan but why should you.

6.       Do you have a son or daughter about to go to University? Why pay for digs each month. Why not purchase that property. You could possibly consider other close student friends sharing your accommodation in return for a contribution towards the mortgage payment and guess who has a property asset on graduation day.

7.       Home improvements. That new conservatory or house extension. It needs to be paid for somehow and after all it is to enhance your home on which you have a mortgage anyway. You about to get a loan that would have increased your monthly outgoings. Stop, think, would it be better to re-mortgage instead?

8.       You have a new Job and for the first time in your life rather than need extra money, you have spare cash each month. While the going is good you want to pay your mortgage off earlier. Your current mortgage does not allow this without penalties to be paid. So move your mortgage.

9.         Your quite simply are unhappy with your current lender. Perhaps your a family member has had a mortgage with a lender and that family member feels that lender has not been particularly nice. So why give them your business.

10.   You have just received a large amount of money, maybe redundancy or inheritance. You donít need this money at the moment so you want to pay off a large amount of your mortgage. Having done that say last year you now wish that you hadnít done that because you could do with that money. With the right mortgage you still have access to that money at any time. Most mortgages do not allow you to get your money back at a later date. What the lender wants is for you to take another loan. So get the right mortgage at the outset.

11.   Your discount or fixed rate is about to come to an end. Your payments are going up. Oh no they are not, your going to re-mortgage and get another good deal.

12.   You want to raise some funds in order to help your Son or Daughter get a deposit towards their first home. In this world of high house values. What a wedding present that would be and you know your grandchildren will be safe and secure.

13.   You may be Single but you are about to get married and you would like to add your wife or Husband to the mortgage, perhaps as a form of commitment.

14.  You simply want to get a Fixed rate mortgage as you feel this helps you budget your finances more effectively.

15.  Sadly, you are in the process of getting a Divorce and you need to get the mortgage in single names.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.  YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.