A lot of people who currently have a mortgage look at top ten remortgage rates as a way to potentially save cash, reduce current payments or increase borrowing to raise cash home improvements, weddings and other reasons.
There are a lot of mortgage brokers that specialise in remortgaging and do not accept first time buyers. As a remortgager, you might have a mortgage history to back up your application.
Whilst moving mortgage may increase borrowing or reduce costs, frequent remortgaging might alert lenders to your status as a 'rate tart' - whereby you have been noticed as moving between mortgages every time the offer rate ends. Some lenders might be slightly more reluctant to lend to you.
Friday 30 November 2007
Wednesday 28 November 2007
Top Ten Discounted Rate Mortgages
If you are looking for mortgages that are fixed a little below the standard variable rate then a Top Ten Discounted Rate Mortgages might be what you need.
With typical terms of 1 year to 3 years, your interest can be charged at an agreed discount off the bank's standard variable rate. But, if you repay early you might have to pay an early repayment fee, which might mean being transferred in the bank's standard variable rate for a few years.
With typical terms of 1 year to 3 years, your interest can be charged at an agreed discount off the bank's standard variable rate. But, if you repay early you might have to pay an early repayment fee, which might mean being transferred in the bank's standard variable rate for a few years.
Monday 26 November 2007
Top Ten Fixed Rate Mortgages
With a top ten fixed rate mortgage, you agree with the lender a certain time period during which the interest rate charged on your mortgage is protected from interest rate changes. This fixed period may be 1 year, 2 years or any time span that the lender offers you.
In most cases the fixed period starts when when the lender first advertises the mortgage, not when you complete the mortgage. Therefore, if with a mortgage that is advertised for several months, your fixed rate period could have started before you applied..
After the offer period, depending on the original agreement you might have to switch to paying the lender's variable rate for a certain amount of time or you may be free to switch to another product by that lender or you may be able to pay off the mortgage entirely to move elsewhere.
In most cases the fixed period starts when when the lender first advertises the mortgage, not when you complete the mortgage. Therefore, if with a mortgage that is advertised for several months, your fixed rate period could have started before you applied..
After the offer period, depending on the original agreement you might have to switch to paying the lender's variable rate for a certain amount of time or you may be free to switch to another product by that lender or you may be able to pay off the mortgage entirely to move elsewhere.
Subscribe to:
Posts (Atom)