How many years it takes to remortgage?
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bryce
Apprentice
Joined: 06 Oct 2006
Posts: 3
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 Posted: 02/05/08 - 11:54 Post subject: |
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| I have a mortgage for my current home. However, due to some pay cuts, my monthly rate has become too high for me to pay regularly. I was thinking about getting a remortgage as a solution. However, I am not sure how many year it takes to remortgage. If anyone could tell me, that would be great. Thanks in advance. |
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arron
Apprentice
Joined: 25 May 2006
Posts: 3
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| Posted: 03/06/08 - 04:38 Post subject: |
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| Remortgage is useful for many people because it effectively reduces monthly rates they need to pay. From that perspective, you could use a remortgage. However, you have to calculate well in order to see whether it really pays off to get another credit, as that is indeed a prolonging of a financial commitment. When it comes to how long it takes, it really depends on the deal you make with your lender. It can take as long as another mortgage, which means a lot - 10, even 20 years. The best way to see whether it really pays off is to calculate all the costs you effectively need to pay. For some suggestions on that matter, go to http://www.yourmortgage.co.uk/remortgage. |
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