UK Remortgage
Remortgages
Remortgaging means switching your current mortgage for a new better mortgage, or raising additional finance by releasing the equity contained in your property. You therefore end your existing mortgage and switch to a new scheme. Usually this involves switching lenders as most mortgage lenders will not offer a remortgage scheme to existing customers.
A remortgage for the self employed can be a way of saving money, but it can also be a great way to raise money. Mortgages are one of the cheapest available loans with low interest rates. Remortgaging makes sense if you want to raise cash.
If the market value of your property is greater than the outstanding adverse credit remortgages, then you have positive equity, and you can increase the size of your mortgage and release the positive equity. Most UK properties have increased in value over the last few years providing homeowners with positive equity. You could remortgage and release your positive equity for many reasons including debt consolidation.
If you are a self employed homeowner looking into remortgages you will probably
already realise there are many pitfalls in your way. One of the most common
obstacles self employed people face is the fact that they can not prove their
income. This can make it very difficult to get accepted by many providers of
adverse credit remortgages. Fortunately, more & more lenders are devising
re mortgages specifically for the self employed. These remortgages are also
known as self certificate mortgages.
Think carefully before securing other debts against your home. Your home may
be repossessed if you do not keep up repayments on your mortgage.
For more information on bad credit remortgages or to apply for a remortgage please follow the link - Remortgages >
- Your home may be repossessed if you do not keep up repayments on your mortgage.
- Changes in the exchange rate may increase the sterling equivalent of your debt.
- The FSA do not regulate certain mortgages.
- The advice and/or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.