If you currently have a mortgage, you may occasionally wonder if a remortgage is a good option for you and or your family. Certainly, a remortgage isn’t for everyone, so take this quick test to determine if you’re in the running to pursue a remortgage as a viable choice
1. Do you presently have a mortgage with a higher-than-average interest rate
Often, if an individual or couple has had a mortgage for a long time, they can get a better deal on interest rates if their credit is decent.
Consequently, if your mortgage carries with it high interest rates, why not consider a remortgage that offers you much lower interest rates
Shop around locally and online and find out what the going interest rates are for someone with your type of property. You just may discover that you can save a bundle by choosing a remortgage rather than sticking with your current lender.
2. Has your credit history improved since you first got your mortgage
As mentioned previously, credit reports can change significantly over the years.
Perhaps you and or your spouse obtained your mortgage ten years ago when you were young and without a good credit...
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