|
"The Easy Way to Get Your Best UK Mortgage" |
|
Helping
over 300,000 people a year find the right mortgage |
| UK Mortgages |
Which Mortgage? |
First Time Buyers |
Remortgages guide |
Bad Credit |
Get a Quote Now |
| Full Mortgages Guide |
Home Buying Guide |
Mortgage TIPS |
Home Insurance |
SEARCH Site |
All UK Mortgage Types |
If
your home is worth considerably more than when you
took out your mortgage, it may seem sensible to increase
your loan to pay off other debts, fund improvements
or even treat yourself to something you’ve always
wanted.
But you could be making a big mistake.
Even if you remortgage to a lower rate of interest,
you may not be making best use of your money. So ask
yourself:
Is it really worth it?
If you want the money to clear other debts, take a
few minutes to compare the cost of the different types
of borrowing.
If you owe £5,000 on a credit card with an interest
rate of 16 per cent, for example, it might seem like
a no-brainer to add it to your mortgage, where you
could pay around 6 per cent.
In fact, over a standard mortgage
term of 25 years, it would
cost £9,660 to clear that £5,000 because
of all the interest you would rack up.
If, on the other hand, you stuck with the 16 per cent
card and paid it off over five years, it would cost
just under £7,300 because you would be borrowing
over a far shorter period.
And if you moved the debt to a low-cost, unsecured
personal loan, it would be cheaper still. Borrowing
at 7 per cent over three years, the total cost would
fall to under £5,560.
Better still, switch the £5,000 to a zero per
cent interest credit card and clear it within the
offer period, and you would pay nothing extra at all
apart from the transfer fee.
If you want to get your best remortgage quote quickly and easily we offer a great new service. We can put you in contact with a professional mortgage adviser. It's free and completely confidential. Simply fill out the form below
Remortgaging
to raise cash
Why isn't
everyone doing it?
How easy is it
to check out?
How do you choose
the best deal?
Costs of Remortgaging
Should I increase the length of my mortgage term
How
to Choose your Mortgage
Types of Mortgage
Remortgages
Where to Find your Mortgage
Getting a Mortgage in Principle
Guide to Buying Home in the UK
Guide to UK Home and Mortgage Insurance
Back to contents of Remortgage Guide
See full contents of the Home Buyers Guide
Read about How to get a Mortgage
I've read enough for now and want to get a free Quick Remortgage Quote
| "
I am so glad I
did your special enquiry form. It was so quick
and compared to
my bank the quote I got saved me a lot of money!
" |
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
| Social Bookmark Us (Please ;-)) | |||
|---|---|---|---|
![]() |
![]() |
![]() |
![]() |
|