© 2010 All rights reserved to www.cozyprices.com
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sponsored links
|
|
Sponsored links
|
|
Advertisement
TM
|
|
|
|
Remortgage or refinance mortgage involves moving or releasing the equity in your existing mortgage by transferring your mortgage to a new lender or renegotiating with the existing one.
Be aware that remortgages are not as straight forward as it seems as there are several costs involved that you need to look out for. If you look and search around with different lenders, you may be able to include some of these fees within your remortgage package. The fees include costs such as:
|
○
|
Legal Fees
|
|
○
|
Valuation Fees
|
|
○
|
Arrangement Fees
|
|
○
|
Solicitor Fees
|
|
○
|
Dead Release Fees
|
|
○
|
Telegraphic Transferee Fees
|
|
○
|
Early Redemption Penalties
|
|
○
|
Mortgage Indemnity Guarantee
|
On the positive side, there is no stamp duty to pay on a remortgage and there is always a good deal out there!
Remortgages can be done through several mortgage products and some remortgage lenders offer special remortgage packages.
However, the remortgage market is very competitive as individuals requiring remortgage already have a track record of paying mortgages and hence are seen as safer investments by lenders. Many lenders offering free valuation and legal fees to you to entice you into making the switch but be mind full of the mortgage interest rate and term your are signing up for.
Remortgaging your existing mortgage to a new mortgage lender usually takes one month to complete from start to finish, although this can be done in a shorter period if the remortgage is urgent and this may incur some additional costs.
However, the remortgage market is very competitive as individuals requiring remortgage already have a track record of paying mortgages and hence are seen as safer investments by lenders. Many lenders offering free valuation and legal fees to you to entice you into making the switch but be mind full of the mortgage interest rate and term your are signing up for.
Remortgaging your existing mortgage to a new mortgage lender usually takes one month to complete from start to finish, although this can be done in a shorter period if the remortgage is urgent and this may incur some additional costs.
Remortgages