Remortgages and Mortgage Loans Explained... When you have significant equity in your home, a remortgage can be the least expensive and most sensible way to raise money.
Also referred to as Mortgage Loans, remortgages enable you to borrow from as little as £25,000 to as much as £1,000,000 or more, over repayment terms ranging from 10 to 30 years.
A mortgage loan or remortgage can be used to consolidate your debts (e.g. loans, credit cards and other expensive credit) and clear your current mortgage (including any arrears), which should leave you with just one easier to manage monthly payment.
A mortgage loan can also be used to reduce your monthly payments by replacing your existing mortgage with a cheaper option, or even interest only.
A remortgage or mortgage loan can help you raise funds for home improvements such as a new kitchen, bathroom or bedroom. Or you can finance a major purchase such as a car, or a luxury holiday or cruise. You can even use the proceeds from your mortgage loan to buy a second home or holiday home!
There are many different types of mortgage loan available, including: -
- Residential purchase mortgage
- Council Right-To-Buy mortgage
- Buy-To-Let mortgage
- Interest only mortgage
- Discounted, fixed, variable and cash-back mortgages
Even if you have past or current credit difficulties, or are self employed and cant prove your income, there are many lenders who are prepared to arrange mortgage loans and remortgages for you.
By Steve Larnder-Smith
Financial Writer
Why Choose Norton Finance? |
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Borrow £5,000 to £1,000,000 |
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Borrow over 3 to 25 years |
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Simple, fast and straight forward |
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Free yourself from unwanted debts |
Please note that calls may be monitored or recorded for training purposes.
On some plans a fee of up to 12.5% may be charged.
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