Mortgages and Remortgages UK, USA, Canada

Remortgages can be used for many reasons, one of the most common reasons being that of homeowners wishing to change to a different mortgage because it will save them money in the long run. For example, if your current lender issued a mortgage with a low introductory interest rate, you may wish to switch to a different mortgage after this introductory period expires. Debt consolidation is another common reason for obtaining a remortgage, as long as the remortgage value is higher than the amount that is owed on the borrower’s existing mortgage.

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If you are considering a remortgage, you may wish to instead consider the option of an equity release plan, particularly if you have already repaid a significant amount of your existing mortgage. Two types of equity release plan are available:

• The Home Reversion Plan - this requires that you sell a proportion of your home; the loan is redeemed upon confirmation of this sale. The interest that the lenders receive takes the form of the increase in the value of your property.

• The Equity Release Mortgage Plan - this plan works in a similar way to a standard mortgage, however it has one big difference in that the interest does not have to be paid monthly. You can borrow an agreed sum of money against your home, and not pay any interest until the property is sold. It is at this point the lender redeems the loan, plus any interest that has been accrued.

Our enlisted commercial mortgage providers are among the best and most reputable in the business; online links to these partners will allow you to obtain quotes easily, and ultimately help you find the competitive commercial mortgage deal that you seek. If you have any queries regarding the subject, our extensive resource of mortgage information is sure to answer them.

For other relevant sites try - mortgages and remortgages
For income/mortgage protection - try mortgage protection insurance
For online mortgages - try Loans UK