Mortgage Changes

A re-mortgage is where you take out another or a different kind of mortgage on the property.

The main reason for this is to save you money on your monthly repayments.

The other reasons which people may re-mortgage is:-

1. Release some equity in the property.

2. Consolidate non-secured debts.

3. Re-mortgage to renovate.

4. Release funds to purchase another property.

Before re-mortgaging you should ensure that there are no penalties with your current lender as these may outweigh and benefit from a new mortgage.