Remortgage News
For your convenience we have sourced a number of remortgage & mortgage related news stories available on the web. All articles included on this page belong to their respective owners and are appropriately referenced.
Avoid repossession by Choosing the right remortgage
British homeowners have been reminded about the importance of choosing the right remortgage or first-time home loan to avoid having their homes repossessed.
According to latest figures from the Department of Constitutional Affairs (DCA), the number of homeowners in England and Wales who are facing repossession because they have defaulted on their mortgage repayments is two-thirds higher than in the same period last year.
Central Capital - Link to full article
Fixed rates going up, so get moving fast
Homeowners who want to lock into a low fixed-mortgage rate should get their skates on.
Following signals from the Bank of England monetary policy committee (MPC) that there will be no more base rate cuts in the immediate future, the price of fixed rates on the money markets has risen.
Melanie Bien of mortgage broker Savills Private Finance says: 'The message is, if you're looking to remortgage, get on with it.'
The Observer - Link to full article
Plan ahead to avoid high remortgage costs
Central Capital - Homeowners who fail to plan ahead when they come to the end of a cheap mortgage deal will face a long wait and high costs before securing a remortgage.
If homeowners fail to arrange a new loan in advance, they can often find themselves paying a standard variable rate in between deals, typically resulting in an additional £370 being spent over three months.
"It's not just a hassle if your mortgage takes a long time to be processed, it can also cost you money if your previous mortgage deal has ended. You will be paying over the odds for each day you are stuck on a lender's standard rate," Ian Giles from the independent broker, Purely Mortgages, told the Mail on Sunday.