How long does remortgage last?
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sascha
Apprentice
Joined: 12 Jan 2004
Posts: 10
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 Posted: 10/06/07 - 10:10 Post subject: |
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| I was thinking about applying for remortgage so I could repay my existing mortgage. I would like to know how long does it last. My financial situation is not very good, so I doubt I could afford a good financial adviser. I would be most grateful if anyone could advice me on this matter. Thank you. |
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donnell
Apprentice
Joined: 30 Jan 2006
Posts: 5
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| Posted: 11/12/07 - 23:32 Post subject: |
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| When you take remortgage you have to seriously consider how long you want to keep making payments. You have the ability to set the duration for five, ten years or more. You should decide for how long you want it to last. My advice is to make the period as short as possible. However, if you are forced to reduce your payments then the period will be longer. Unfortunately this his way you will be paying more interest. |
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