Remortgage Deals to Free Up Your Capital.
we take out a mortgage on a property we usually
like to think that we will complete the repayments
in as short a time as possible and become the
full and rightful owners of the home we live in.
Sometimes however things do not work out that
way. Unexpected demands upon our finances or changes
in our personal circumstances can lead us to having
to consider remortgaging, to enable us to free
up capital or indeed to just to pursue other financial
interests or opportunities.
A mortgage is
to all intents and purposes simply a low interest
loan secured on property, and a remortgage is
a reaffirmation of the same arrangement made at
a later stage.
are two broad types of mortgage, fixed rate or
variable. In the former case the borrower pays
a set amount at regular intervals which never
changes irrespective of external economic factors.
A mortgage or remortgage upon which repayments
fluctuate tends to follow the same external economic
factors, with higher payments at times when interest
rates are rising, and lower payments when they
are more settled.