Remortgage rates
Remortgaging is an important part of being a homeowner. It is an opportunity for you to secure a better deal on your mortgage, which could boost your finances for at least the next couple of years - especially in the current climate, when rates are relatively low.
Remortgage advice - equity and your home
Finding a good remortgage deal is important for homeowners. For many, it`s a good opportunity to reduce outgoings - especially in the current economic climate, when mortgage rates are typically lower than in recent years.
House prices - on their way up?
Last September, the `average` house was valued at around £161,800*. Prices were on the way down, and kept falling for another five months - reaching an average of £147,700 in February - before starting to climb again.
Remortgages & deposits
For anyone who`s looking for a remortgage, the issue of deposits is an important one. Right now (September 2009), no-one is sure whether house prices are about to go up or down. That makes mortgage lenders particularly cautious about lending - and makes the subject of deposits particularly vital.
What is a remortgage?
A `remortgage` is exactly what it sounds like - it`s a new mortgage which a homeowner can take out. This will pay off their current one, leaving them to start repaying the new one instead.
Debt management vs debt consolidation remortgage
Debt management plans and debt consolidation remortgages are two of the most common ways for people to address their debts. Both enable the borrower to reduce their monthly outgoings, but there are important differences between the two that mean that each is more suitable for people in a different situation.
Mortgage repossession
If you`re worried about mortgage repossession, you`re not on your own. In 2009, the Council of Mortgage Lenders (CML) expects around 75,000 properties (representing around 0.66% of all mortgages) to be repossessed.
Mortgage arrears and debt
When money`s tight, it`s all too easy to fall behind on debt repayments and end up in arrears on some of your debts. It`s a bad idea with any debt (as it can damage your credit rating, incur fines and lead to legal problems) but some kinds of arrears, like mortgage arrears, are simply worse than others.
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