Tuesday, August 19, 2008

Then Youre Primed For Remortgage

Category: Finance.

A remortgage isnt for everyone, but how can you best decide whether or not its right for you Take this personality quiz and see if you have what it takes to pursue a remortgage for you and/ or your family: Can you accept change.



Then youre primed for remortgage! YES. Because it involves switching lenders, youll need to keep an open mind about changing midstream, and with your personality, you shouldnt have a problem with this. After all, you have the ability to separate what is business from what is personal. You wont feel disloyal about leaving your current financial institution. NO.


Alternately, you may want to choose a refinance instead, which usually takes place using the same lender as you currently have. If you stick with something to the bitter end, you may have difficulty dealing with the fact that a remortgage will necessitate that you use a new lender. That way, you wont feel as if youre cheating on your financial institution by seeking a remortgage. YES. Has your credit history changed since you got your first mortgage. For a good number of people and couples, their credit histories improve over time.


Hence, a remortgage could offer the opportunity to get a significantly lower interest rate that will allow the borrower to save money in the long run. Thus, the mortgage they took out in 1990 might still carry with it a very high interest rate even though they now have an unblemished credit report. NO. After all, one of the primary reasons for a remortgage is to change your payments and perhaps allow you to save considerable sums. If your credit history hasnt changed much since you first borrowed money for your mortgage, you may not need to remortgage. Are you good at doing research.


You love the thrill of researching and investigating something new, so youll be into hunting for the best remortgage deal available. YES. You also wont get discouraged if you dont find terrifically low interest rates the first time you window shop for a remortgage. NO. Youll just wait a few days and try again! If you dont like researching, you might want to reconsider getting a remortgage. Do you like saving money.


Alternately, why not ask someone else to do your investigating for you That way, you can get the best remortgage deal possible, but without the legwork that isnt your forte. YES. Many individuals have been able to sock away considerable amounts of money, thanks to taking out a remortgage and pocketing all they would have spent on interest. Saving here and then really makes you smile, so a remortgage is certain to elicit a wide grin! Youll also be able to pay down your principle rapidly with a remortgage, saving you even further! Are you really not that interested in saving any moolah Then a remortgage might not mean as much to you but you still should consider it after all, a penny saved IS a penny earned!


NO.

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