A remortgage isn’t 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:
1. Can you accept change
YES Then you’re primed for remortgage! Because it involves switching lenders, you’ll need to keep an open mind about changing midstream, and with your personality, you shouldn’t have a problem with this. You wont feel disloyal about leaving your current financial institution; after all, you have the ability to separate what is business from what is personal.
NO 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. Alternately, you may want to choose a refinance instead, which usually takes place using the same lender as you currently have. That way, you wont feel as if you’re cheating on your financial institution by seeking a remortgage.
2. Has your credit history changed since you got your first mortgage
YES For a good number of people and couples, their credit histories improve over...