Remortgaging is ‘very popular’
December 6, 2007 by admin
Filed under News, News-Mortgages
Remortgaging has become ‘very popular’ in the last few years, according to a spokesperson for independent mortgage adviser Charcol. 
Ray Boulger, senior technical manager at John Charcol, said: “The average life of a mortgage now is only three and a half years. And the reason it is so low is that a lot of people do remortgage frequently.”
He advised that those who are considering remortgaging need to examine their arrangements approximately three months before they reach the end of their current deal.
The key consideration to look at when remortgaging is how much such a deal will cost over the entire duration of the mortgage period, said Mr Boulger.
“The most important thing is to make sure the new mortgage you take out is affordable,” he concluded.
In November of this year, the Council of Mortgage Lenders reported that remortgaging and other lending was at £11.1 billion in September.
This figure was higher than the £11 billion of lending in August and the £10 million in September of last year.
Hints and Tips on Remortgaging
Over the past year or so many people in the UK have decided to remortgage as a result of rising interest rates and decreasing affordability. In order to avoid the implications of missed and late repayments due to lack of affordability homeowners have flocked to secure a better deal elsewhere, with some looking for a lower interest rate and others looking for increased financial stability by switching from a variable rate deal to a fixed rate deal. Read more
Tags: cheap fixed rate, half, home equity, fixed rate mortgage deals, remortgages, late repayments, remortgaging, rate mortgage dealsRBS launches mortgage options for spring
April 3, 2007 by admin
Filed under News, News-Mortgages
The Royal Bank of Scotland (RBS) has announced a number of new mortgage offers for the coming season, including a two-year fixed-rate deal at 5.19 per cent.
This package is available to cover up to 75 per cent of the value of a property and charges a product fee of £499. RBS states that this offer will suit homeowners and remortgage customers who like to know what their monthly repayments will be.
A two-year base-rate tracker mortgage has also been unveiled, currently priced at 4.95 per cent – 0.3 per cent below the Bank of England base rate – with a fee of £999.
Completing the new portfolio of products is a deal for people who have already paid off a chunk of their mortgage. This offer is available with a two-year fixed interest rate of 4.99 per cent, for loans covering up to 50 per cent of the value of a home.
This package is only available to existing RBS current account holders.
Darrell Evans, commercial and product director for RBS Mortgages, said: “With some uncertainty on what will happen to interest rates, home buyers and remortgagers will be looking for the best deal possible.
“We’ve provided a great choice of competitive deals to match the needs of either first-time buyers, switchers or those remortgaging.”
