Receiving remortgage advice can be extremely beneficial to a mortgage holder and finding the right mortgage is a very important financial decision in life, as it is more often than not the largest single expenditure in peoples lives! People will often search the supermarkets shelves for bargains choosing products for the sake of a 1p or 2p saving per item and theres nothing wrong with that; I do it all the time.
Our parents teach us to be frugal with money in our up bringing and we sometimes become animals of habit throughout our lives. Through the generations, inflation has seen prices increase ten fold and who would have thought years ago that the price of a loaf would touch the £1 figure.
The same can be said about UK property, as the housing market has exploded and the average mortgage has gone way above the £156,000 figure. This is before we align our currency and interest rate with the euro. Ireland has seen a massive explosion in property prices in the post years of joining the euro and it is now an extremely expensive place to buy property.
By comparison the UK property market is still cheap and I dread to think what will happen to property prices when the UK eventually aligns itself with the euro and interest rates are reduced to 3.5%. Will we see the average UK mortgage at the £250,000 figure? I think so!
UK Remortgage Advice
Finding the right mortgage and remortgage is a very important financial decision in life as it is often the largest single expenditure in peoples lives! Most of us have all experienced hard times at some stage in our lives and received letters from banks telling us that they are going to charge us £27 for bouncing a cheque or non payment of a direct debit or standing order. Would you like to hit back?
The value of a cheap remortgage
Now is the time to hit back, find a cheap remortgage and take some of that money back from them by taking advantage of the discounts that they have to offer to existing and new borrowers. There are massive savings to be had by remortgaging and the bigger your mortgage, the more the potential savings. An Englishmans house is his castle but for the average homeowner with an average mortgage that is now in excess of the £100,000 it is an extremely expensive commodity. Many people do not realise that it could pay them to review and move their mortgages by remortgaging on a regular basis and the simple arithmetical advantages of this could be in the thousands as a consequence.
Potential savings on a cheap remortgage
A 2% saving on a £100,000 remortgage works out at £2,000 per year and assuming that this saving can be made every year, it equates to an astronomical £50,000 saving over the normal mortgage term of 25 years. It just doesnt make sense to be putting £40 a week into a mortgage lenders pockets when they already make billions of £s net profit per year.
Quick remortgages
Surveys conducted by lenders have identified that some people are just not aware of the benefits of a cheap remortgage, whilst others have said that they just could not be bothered. Some people have stated that the mortgage and remortgage market are just too complicated. Well, the range of UK mortgages and remortgages have increased dramatically over the past few years and although this increase in mortgage types has added complexity, it has also introduced fierce competition, which has in turn resulted in the availability of some very attractive remortgage products for the customer. With over 10,000 remortgage products to choose from, how do we ensure that we get the best cheap mortgage and remortgage rates?
Cheap Remortgage Advice
Employing the services of a whole of market remortgage broker can pay dividends here as they have sophisticated computer software to narrow down cheap remortgage lenders and arrange the cheapest remortgage rates
