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leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

What is remortgaging

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

May be your question is re-financing

jenkin7 · Posted: Thu Oct 08, 2009 1:01 am Post subject:

Hi leeelliot,

Re-mortgaging is nothing but refinancing. When you have an existing loan debt and you replace it with a new loan with new rates and terms, it is known as refinancing or re-mortgaging. Through refinancing people often switch over to a new loan with lower interest rate and pay off their current debt obligations.

dollylee9 · Joined: 19 Jul 2009 Posts: 63 -0.14 Dollars($)

A remortgage is noting but refinancing. This contains the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security.

Homeowners may choose to remortgage for various reasons as below-

1)Including to reduce the size of repayments.
2)To pay off a mortgage earlier.
3)To raise capital.
4)To consolidate other debts.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Most of the pople do it to when the intrest rates are lower.

Also when you have ARM reset, people normally try to refinance and get a lower rate

adrianlee1971 · Joined: 13 Sep 2009 Posts: 53 -0.17 Dollars($)

A remortgage is changing your mortgage without moving your home. When you remortgage you are ending your old mortgage deal and switching to a new one. This normally involves switching your lender although you can sometimes change deals with your current provider. If you do remortgage with your current lender it normally involves changing your existing deal.

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