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jeliffie

Member
Post time10:42 13-11-2007

A remortgage loan is simply a new loan that replaces an existing mortgage. It can be obtained through your existing lender or you can use a different lender, depending on where you can find the best deal. As part of the remortgage process, your old mortgage will be paid off and you may even have the option to cash out some of your home equity.

The biggest advantage of remortgage is the lower rate interest mortgages. It is always important to remember that each individual's and circumstances are different, so your decision should be based on these factors as well as the benefits of each financial product. Remortgaging is much simpler than buying a new home because the deeds of the property are already registered in your name. If you choose to change to a different deal with your existing lender, the process is even simpler. There are a wide variety of lenders who offer remortgage loans, many of whom have special remortgage departments. You will notice that a number of the best re-mortgage products offer a free legal service and even a free valuation on your property, this means you can now transfer mortgage with no cost. Traditionally, remortgages were associated with debt consolidation - the re-organisation of a messy state of financial affairs, rather than a sensible and proactive way to make more of your money. Remortgages do take a bit of time, and money – you may have to pay for a valuation and legal fees, plus admin costs and other arrangement fees. The cost of your mortgage depends on a number of things - how much you want to borrow, how long you need the mortgage for and the mortgage you choose.

pugyrob

Member
Post time12:48 17-04-2008

well the most complete resource and trustworthy resource you can read for  mortgage loans would be the government website. There are many dodgy mortgage companies on the web and i would advise reading their site at http://www.fsa.gov.uk/tables/ to know your rights, the latest rates and much more.

 

rob


Lwilliams

Member
Post time17:54 20-05-2008

A remortgage loan is simply a new loan that replaces an existing mortgage. It can be obtained through your existing lender or you can use a different lender, depending on where you can find the best deal. As part of the remortgage process, your old mortgage will be paid off and you may even have the option to cash out some of your home equity.

The biggest advantage of remortgage is the lower rate interest mortgages. It is always important to remember that each individual's and circumstances are different, so your decision should be based on these factors as well as the benefits of each financial product. Remortgaging is much simpler than buying a new home because the deeds of the property are already registered in your name. If you choose to change to a different deal with your existing lender, the process is even simpler. There are a wide variety of lenders who offer remortgage loans, many of whom have special remortgage departments. You will notice that a number of the best re-mortgage products offer a free legal service and even a free valuation on your property, this means you can now transfer mortgage with no cost. Traditionally, remortgages were associated with debt consolidation - the re-organisation of a messy state of financial affairs, rather than a sensible and proactive way to make more of your money. Remortgages do take a bit of time, and money – you may have to pay for a valuation and legal fees, plus admin costs and other arrangement fees. The cost of your mortgage depends on a number of things - how much you want to borrow, how long you need the mortgage for and the mortgage you choose.

I'm interested in more information on this remortgage loan. Do you know of any verified websites I could investigate? I'd be very interested in a side by side comparison of a 'remortgage loan' vs 'mortgage' or '2nd mortgage'.
If you have time, let me know ... thanks
Linda ... lake tahoe real estate