How to remortgage

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<h1>How to remortgage</h1><strong> Author: <a href='http://www.articleseen.com/profile_Katie Simpson.aspx'>Katie Simpson</a></strong><br /><p>Remortgaging When the agreed term comes to an end with your mortgage lender, the option is available to you to browse the market for a better deal. This is what is called a remortgage. If you have some equity in your property and you would like to get a better interest rate, you should consider a remortgage. Now is also a very good time to shop around as the bank Of England base rate is at an all time low. This will ensure you get the best deal possible. And with many people feeling the financial strain at the moment, and the dire state of the economy, remortgaging would be a wise choice if you would like to secure lower interest rates. Reasons To Remortgage You can get a better interest rate: The most common reason for remortgaging is to find a better interest rate which will lower monthly mortgage payments, giving you a bit of extra money each month. When a fixed term agreement or variable deal is coming to an end, many people decide to shop around to find a low rate if their current or previous rate was substantially higher than the Bank Of England base rate, which currently stands at 0.5%. Remortgaging can also release equity in a property, freeing up money to take care of other matters, for example, debt consolidation. It is not essential that your current agreement is coming to an end. Some people remortgage purely to save money when, for example, a fixed rate mortgage deal was entered, only for the base rate to plummet, leaving the buyer paying the same high interest payment, unable to take advantage of the lower rates Remortgaging is a sensible option at the moment, but it mainly benefits people on a variable or interest only mortgage deal. Individuals on a fixed-rate mortgage agreement may be hit with penalties by their lender for abandoning their fixed agreement. How to remortgage If you are looking into finding a better mortgage deal, then you may like to enlist the help of a mortgage broker. Not only will they be more adept at finding the right mortgage for you, they also have access to products that aren't available direct to consumers. All mortgage brokers are regulated by the Financial Services Authority, meaning they are bound by a code to treat customers fairly. Reputable companies like Sterling Green provide bespoke advice on the best option for your remortgage and will actively seek out the best possible rates for you. For more information and a free consultation with one of our qualified mortgage experts, call us on 0800 083 2827</p><strong>About the Author:</strong><br /><a rel="nofollow" href="http://www.sterlinggreen.co.uk">Sterling Green PLC</a>, based in the heart of Manchester City Centre, is a financial management company and as such helps people who are experiencing financial difficulties. Sterling Green experts help with debt management issues <a rel="nofollow" href="http://www.sterlinggreen.co.uk//what-is-debt-consolidation.html">debt consolidation</a> and debt settlement. <p> Article Source: <a href='http://www.articleseen.com/Article_How-to-remortgage_27953.aspx'> http://www.articleseen.com/Article_How to remortgage_27953.aspx</a></p>

Article Source : http://www.articleseen.com/Article_How to remortgage_27953.aspx

Keywords : debt advice, debt management, debt consolidation, debt settlement, remortgage,

Category : Finance : Finance