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Posted on: 16th Dec, 2006 02:08 am
hi i am jonty rodes form out bond callcenter i am blank in mortgage and remortage so wolud you explene me simple the meaning of mortrage and remortagage by some example relevent with addtion amount , secured loan,unsercured loan with critareas pleas sir of beautiful madam
Mortgage loan is a home loan taken to buy a property or pay off an existing home loan. The property acts as the security for the home loan.
Posted on: 16th Dec, 2006 03:32 am
Hi Jonty,

Mortgage is a process by which a person borrows a certain amount of money for buying a residential or commercial property. The property itself is kept as the security for the loan taken. This means that the lender offering loan may take away the property in case the borrower fails to repay the loan.

To know more about Mortgage, refer to the article on this topic.

Thanks,

Sara
Posted on: 16th Dec, 2006 10:46 pm
Hi Jonty,

Remortgage is prevalent in the UK industry. It refers to changing the home loan into another to secure a lower interest rate and suitable terms and conditions. You can go through the section on Remortgage if you wish to know about it in details.

Thanks,
James.
Posted on: 17th Dec, 2006 04:37 am
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