Do you see interest rates falling in the market and feel sad that you can’t take advantage of it just because of your credit ratings. Wrong. It is true that in most cases you will be deserted by the majority of high street lenders but there are specialist lenders out there who will lend a remortgage loan to you irrespective of your credit history. Bad credit remortgages are meant for home owners in UK who have had some problems with their credit ratings including CCJ’s, defaults in past loan payments, un employment, bankruptcy, etc etc.
Remortgage is essentially a switch over of the mortgage from one lender to another who offers lower interest rate and has better deals on repayment conditions. A bad credit remortgage allows you to achieve the same ...
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Remortgaging is a popular method to restructure personal finances. It means replacement of your existing mortgage loan with a new loan either from the same lender or a different lender. It is a suitable option for various reasons such as getting a better interest rate, reducing monthly payments, freeing up equity or consolidating debt.
There are various types of remortgage loans available. Listed here are ten of the most common types of remortgaging options available to you.
1. Standard Variable Rate (SVR) Remortgage
In such kind of remortgage, the lender charges a standard rate of interest. It is normally 1%-2% above the Bank of England’s base rate.
2. Fixed Rate Remortgage
The remortgage rate is fixed at a particular rate of interest. This is normally for a period of two to five years.
3. Discounted Rate ...
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Remortgaging is the replacement of your existing mortgage with a new one. Remortgaging can help you to lower monthly payments, lower the amount that you pay for your home and to consolidate debts. Obviously an individual will try to take a remortgage at a lower rate of interest. But with fluctuating interest rates in the financial market, you may run the risk of interest rates rising.
People who do not want rising interest rates affecting them can opt for long-term fixed rate loans. Long-term fixed rates such as a ten year remortgage are ideally suited for borrowers who intend to live in their property for a long term and prefer the security of a constant monthly mortgage payment to help with budgeting.
Many lending companies in United Kingdom like Woolwich, Norwich & ...
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