Very simply, a mortgage is a long term loan that is taken out by someone in order to buy a house; a home loan if you will. This loan is secured against the value of the property and the amount of the loan required is dependent on the financial resources (be that money or equity) [...]
Mortgages
With the average first-time buyer deposit sitting around the 25% mark, getting on the property ladder as suddenly become more difficult again. The heady days of 100% mortgages have come to a skidding halt and you suddenly find yourself needing at least £30k in the bank to even get a piece of the ‘falling’ house [...]
With the wealth of offers and deals that are promoted by lenders these days, it is hardly surprising that borrowers stick with the same mortgage right up until they finally own their home. Indeed, mortgage lenders encourage you to switch.
Why remortgage?
Most obviously, you would remortgage in order to save money. By switching your mortgage [...]