Guide to Remortgages

Here is a useful guide to remortgages. What is a remortgage? A remortgage is when the terms of the original mortgage are renegotiated, and usually means that the borrower increases the amount that they are borrowing, which is often possible due to a rise in the value of the property.

A remortgage is simply the act of paying off your current mortgage and taking out a new one. Many people do not realise that they are able to do this and so are losing out on low interest rates. By remortgaging your home, you could save significant amounts on your monthly payments.

Remortgaging is changing mortgages without moving home. It is the process of changing your mortgage for a better rate, or to release some of the equity in your home, or to consolidate your debts. Getting a remortgage involves ending your current mortgage scheme and moving to a new one.

A remortgage is the process by which you change from your current mortgage to a new mortgage. A remortgage generally involves changing mortgage lenders because most lenders do not generally offer remortgage schemes to existing customers.

The remortgage usually will involve a fresh survey of the property taking place, and an updated valuation of the property, which will take into account any changes in value due to home improvements, or due to fluctuations in the local or national property market.

A remortgage can be used for the purpose of gaining lower interest rates on your mortgage or raising finance through releasing equity.

A remortgage is a great way of saving money, as it is likely to lower your mortgage interest rates. A mortgage is also one of the cheapest forms of loans around, so if you're looking to raise finance, it makes sense to remortgage your home.

Releasing equity is a good way of raising additional finance. If your home has positive equity - its market value is greater than the outstanding mortgage - you can increase the size of your mortgage.

A remortgage may allow the homeowner to repay other debts such as credit cards, personal loans or it may be a way of paying for home improvements such as a new extention, conservatory or loft conversion.

When choosing a new lender for your remortgage, make sure to find out whether the lender offers free valuation, set up fees or that they pay for the legal fees.

A remortgage should be considered for a variety of reasons:

low interest rates - a remortgage can allow you to gain a better rate of interest and reduce your monthly mortgage repayments.

debt consolidation - a remortgage can allow home owners to consolidate their existing debt into one manageable monthly payment.

raise finance - a remortgage allows home owners to raise finance. As its interest rates are among the lowest of all loan types, a remortgage is an ideal solution to finance issues.

You may freely reprint this article provided the author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

In The News:
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://asia.news.yahoo.com/081203/3/3szn4.htmlcid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGjU1oulfE1D3r8k1adIo771pC-uAimg src=http://news.google.com/news?imgefp=BfL5p4De5PgJimgurl=sg.yimg.com/xp/reuters/20081203/20/464274511.jpg width=80 height=51 alt= border=1brfont size=-2Yahoo/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.easybourse.com/bourse-actualite/marches/mortgage-refinance-applications-soar-as-rates-fall-573131cid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNHR3QYI1Qu3qgXr-sDGJaZuzOVpRAbMortgage Refinance/b Applications Soar As Rates Fall/abrfont size=-1font color=#6f6f6fEasyBourse.com,nbsp;Francenbsp;-/font nobr1 hour ago/nobr/fontbrfont size=-1The bMortgage/b Bankers Association#39;s index of brefinance/b applications posted a record 203.3% increase over the previous week. Additionally, the US Treasury b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3Da_i8357NDD7k%26refer%3Dhomecid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNEtzgJu-KJrKC0fKyTDaTJC1iTVHQUS MBA’s bMortgage/b Applications More Than Doubled Last Week/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/big-rate-drop-sends-mortgage/story.aspx%3Fguid%3DABF1DD99-9E4D-4F47-94EE-7E0956A6FE64%26dist%3DSecMostReadcid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNFjq_DSDoSY0ui8xO8dFxeDKW187wbMortgage/b applications up 112.1% last week, due to drop in rates: MBA/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.usatoday.com/money/economy/housing/2008-12-03-mortgage-applications_N.htmcid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGoBMnjytfHyrJpTsGlOA2ZyUn7_QFalling rates spark rush to bmortgage/b applications/a font size=-1 color=#6f6f6fnobrUSA Today/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.google.com/hostednews/ap/article/ALeqM5iGO3ptAO6a54_9bVj7EorgcgBWSQD94RAE1G0cid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNEqWYJaF7jgpUbUTT39F4mVB5RS2wnobrThe Associated Press/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/economicNews/idUSN0333008520081203cid=1277091985ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNFO3Zikcj5vy1GLxKIQ2ZDiC4FI0wnobrReuters/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277091985hl=ennobrall 142 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.reuters.com/article/ousiv/idUSTRE4B27JG20081203cid=1276773558ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNF47hkoSTcZ1R0waSKT2HdX3IdiYwLower bmortgage/b rates help but jobs, prices key/abrfont size=-1font color=#6f6f6fReutersnbsp;-/font nobr2 hours ago/nobr/fontbrfont size=-1Applications to buy and brefinance/b homes hurtled higher last week as the lowest rates since the summer of 2005 unleashed pent-up demand. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.smh.com.au/news/national/fixedrate-trap-snares-43000-home-owners/2008/12/03/1228257139097.htmlcid=1277181419ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGYcx6Ko28_T6LUiYq0hTabw4EyFQimg src=http://news.google.com/news?imgefp=H67Akanm7v8Jimgurl=www.smh.com.au/ffximage/2008/12/03/christopher_zinn_narrowweb__300x490,0.jpg width=49 height=80 alt= border=1brfont size=-2Sydney Morning Herald/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.smh.com.au/news/national/fixedrate-trap-snares-43000-home-owners/2008/12/03/1228257139097.htmlcid=1277181419ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGYcx6Ko28_T6LUiYq0hTabw4EyFQFixed-rate trap snares 43000 home owners/abrfont size=-1font color=#6f6f6fSydney Morning Herald,nbsp;Australianbsp;-/font nobr10 hours ago/nobr/fontbrfont size=-1quot;People who are on a fixed-term bmortgage/b are invariably surprised to find out the size of the break fee when they choose to brefinance/b,quot; he says quot;Often it b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://raleigh.mync.com/site/raleigh/news%257CSports%257CLifestyles/story/20699/mortgage-brokers-now-is-good-time-to-refinancecid=0ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNHf-ehS7BTT6K9xyNfoyYmH4Q71VwbMortgage/b Brokers: Now Is Good Time To bRefinance/b/abrfont size=-1font color=#6f6f6fMyNC.com,nbsp;NCnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1By Lauren Hills, NBC17, 14 hours, 38 minutes ago While most money matters aren#39;t looking up right now, if you#39;re looking to brefinance/b your home, bmortgage/b b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601213%26sid%3DaSwRduPiiLjc%26refer%3Dhomecid=1277198152ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGMtqrxZaYM1UeWWr1IhtD0cqetzgFed’s Kroszner Says Foreclosures Harming Middle-Income Areas/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr2 hours ago/nobr/fontbrfont size=-1b.../b the highest on record as home prices dropped and stricter bmortgage/b standards made it harder for homeowners to sell or brefinance/b, RealtyTrac Inc. said. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chron.com/disp/story.mpl/business/6143753.htmlcid=1276993206ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNEIbF7XT96l20Sc_l5VecsKYwgc0Qimg src=http://news.google.com/news?imgefp=zDehzouC4NYJimgurl=www.chron.com/photos/2008/12/02/14221383/260xStory.jpg width=80 height=53 alt= border=1brfont size=-2Houston Chronicle/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chron.com/disp/story.mpl/business/6143753.htmlcid=1276993206ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNEIbF7XT96l20Sc_l5VecsKYwgc0QbMortgage/b proposal has faced conflict/abrfont size=-1font color=#6f6f6fHouston Chronicle,nbsp;United Statesnbsp;-/font nobr17 hours ago/nobr/fontbrfont size=-1b.../b home prices fell and stricter bmortgage/b standards made it harder for borrowers to sell or brefinance/b, according to RealtyTrac, a provider of default data. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.google.com/hostednews/ap/article/ALeqM5gxwdhWlcBaOAu--sbHbnK6vFR9cQD94RGMEG0cid=0ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNESgVYDJ6ggtjswmzvFwyxTf87aswFinancial industry pushes for lower bmortgage/b rates/abrfont size=-1font color=#6f6f6fThe Associated Pressnbsp;-/font nobr26 minutes ago/nobr/fontbrfont size=-1While the plan, if enacted, will help anybody looking to buy or sell a home, or brefinance/b out of an expensive bmortgage/b, it may not help those whose credit b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.smallcapinvestor.com/smallcapnews/todaystrading/2008-12-03-retail_financial_homebuilders_lift_small_caps_past_weak_datacid=1277269070ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNG85pZc_IGY0RYwUCtflBAWNilMEARetail, financial, homebuilders lift small caps past weak data/abrfont size=-1font color=#6f6f6fSmallCapInvestornbsp;-/font nobr1 hour ago/nobr/fontbrfont size=-1“The bmortgage/b purchase and brefinance/b data are seen as friendly, and Radian said that October bmortgage/b claims were less than expected,” Nick Kalivas, b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/11/25/AR2008112501946.htmlcid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNFNTf2Z8MyHCBMVLztwerPq6PBbeAimg src=http://news.google.com/news?imgefp=fGMTG1XsEbUJimgurl=media3.washingtonpost.com/wp-dyn/content/photo/2008/11/25/PH2008112501947.jpg width=61 height=80 alt= border=1brfont size=-2Washington Post/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.latimes.com/business/investing/la-fi-mortgage27-2008nov27,0,3466653.storycid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNFkdZvtaY_kXXX_8LVHFNWOypvurAbMortgage/b rates fall, but many borrowers will have trouble qualifying/abrfont size=-1font color=#6f6f6fLos Angeles Times,nbsp;CAnbsp;-/font nobrNov 27, 2008/nobr/fontbrfont size=-1Jeff Lazerson, a Laguna Niguel bmortgage/b broker, said all the customer calls he received Tuesday were from people seeking to brefinance/b, not buy homes. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.baltimoresun.com/business/bal-bz.mortgages27nov27,0,9349.storycid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNEjbjNERwvv-6VjdFu6Y9O5_zGFfAUS move cuts mortgages to lowest rate since February/a font size=-1 color=#6f6f6fnobrBaltimore Sun/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DaQ86JoZr_VFY%26refer%3Dhomecid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGmdRjehyh01ywzgpgNdXSjHu9mUgbMortgage/b Rates Tumble on Fed Debt Purchasing Plan (Update1)/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.fool.com/personal-finance/retirement/2008/11/28/last-call-for-smart-homeowners.aspxcid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNGgqBgF_Hid72Zfem4SxyMncE3BFwLast Call for Smart Homeowners/a font size=-1 color=#6f6f6fnobrMotley Fool/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.marketwatch.com/news/story/mortgage-rates-likely-stay-low/story.aspx%3Fguid%3D%257BE1AA4E98-1952-44E3-BBAA-E279EB80088C%257D%26dist%3Dmsr_1cid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNEfRu-XEvQ_O_mmqcQ4CNUnR7Y8ygnobrMarketWatch/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://money.cnn.com/2008/11/26/markets/bondcenter/bonds/%3Fpostversion%3D2008112617cid=1275069318ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNFkyFfzqjyYv8dqu9ztd42vAe64NQnobrCNNMoney.com/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1275069318hl=ennobrall 2,543 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601068%26sid%3DaRtykQ8tqETY%26refer%3Dhomecid=1277209673ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNHEYdsxr74XeczPpyk6Ss17n-jfzwUS Economy: Service Companies Shrink at Record Pace (Update1)/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1Builders also rose after a report showed bmortgage/b applications surged last week as interest rates dropped. The Standard amp; Poor’s 500 index rose 0.5 percent b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601068%26sid%3Damfl0_ktyeFY%26refer%3Dhomecid=1277209673ei=PBE3SeDrE8remQefx_iwDwusg=AFQjCNFFZkAVrconjBy81mV9SF0-462VuQUS Economy: Service Companies Shrink at Record Pace (Update2)/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277209673hl=ennobrall 25 news articles/nobr/a/font/div/font/td/tr/table
mortgage refinance - Google News

Getting a Home Improvement Loan: What Your Bank Needs

The popularity of stores like Home Depot and Lowe's show... Read More

Apply For Home Mortgage Loan Online With Bad Credit - Things To Consider

So, you've found the perfect home. You've already decided where... Read More

A Mortgage and Bank Trick You Should Avoid at All Costs

Once you've purchased your home, you will begin to get... Read More

Securing a Cheap Home Improvement Loan

Finding a cheap home improvement loan can be a challenge... Read More

A Guide to Getting a Home Improvement Loan

If you've got a few things around the house that... Read More

Mortgage Research Good News for House Buyers

Figures from the Council of Mortgage Lenders show that in... Read More

Essence of Self Certified Mortgages

Your search for a mortgage isn't leading results.Check for any... Read More

Mortgage Refinance - Tips to Help You Cut Fees and Costs

Saving money through a mortgage refi is more than just... Read More

VA Loans, A Gift from Uncle Sam

Uncle Sam has a gift for the men and women... Read More

Mortgage Elimination- A Horrible and Sure Way to Lose Your Home to Foreclosure

"Own your home free and clear in 3 to 4... Read More

Why Choose a Home Equity Loan?

There are many reasons for choosing a home equity loan.... Read More

Why Refinance Back into a 30-Year Loan?

One of the biggest reasons homeowners refinance their mortgage is... Read More

Poor Credit Mortgage Reigns High Among Mortgages Available to Bad Credit Borrowers

Like a big brother keeping notes of the erring behaviour... Read More

How to Utilize Your Cash Investment in Your Home

Have you ever noticed how hard it can be to... Read More

Home Refinancing Scam ? Thieves Use Identity Theft to Steal Your Equity

Since the demise of the stock market in 2000, the... Read More

Home Improvements Turn Average Homes into Dreams Come True

If you're thinking about taking out a home improvement loan,... Read More

Residential Mortgages ? a Step Ahead on the Property Ladder

Doesn't Residential mortgage give the impression that they are a... Read More

Home Equity Loans ? Research Your Lender Carefully

Real estate prices are rising across the country, and Americans... Read More

Credit Problems? With a Subprime Mortgage Lender, Poor Credit is Not a Problem

Have you been turned down for a home loan recently... Read More

Home Equity Line of Credit or Second Mortgage Loan Online - Things To Do With Your Homes Equity

If you are wanting to get a home equity loan,... Read More

Fixed Rate Mortgage Loans - Understand the Pros and Cons of the Fixed Rate Mortgage

There are many benefits and drawbacks to consider when deciding... Read More

What is a Flexible Mortgage?

'Flexible mortgage' is a term that's used a lot, but... Read More

Alternative Options For Rising Interest Rates

As interest rates have risen in the last six weeks... Read More

Bad Credit Home Loans - Dealing With Bad Credit Mortgage Companies Online

Dealing with mortgage companies online can enable you to get... Read More

Remortgages Guide

Outlined below is a useful remortgages guide. Remortgaging has become... Read More