Homeowners Are In The Dark
Analysts have cited that many homeowners should be examining their present mortgage. Many may not be aware of their interest rate, or when their mortgage deals expire. The effect of a rise in interest rate is unknown to many. Understanding your current situation and exploring the advantages of a remortgage could be extremely beneficial to a family’s financial status.
The Consumer Financial Education Body (CFEB) is trying to get out the word to homeowners that they should explore their current mortgage and understand its details. In Research conducted by the CFEB of those polled one half had no plan to review their current mortgage items at the time of the poll. With interest rates low and an abundance of different remortgage products available, this is a great time to review and see if a remortgage would be beneficial. In fact not only should a review be done, but a long term plan should be explored. Find out the advantages a remortgage would give immediately and explore what actions might be taken in the future dependent on the existence of certain factors, for a remortgage can be done more than once. A remortgage specialist would be able to advise a homeowner on options available and the advantages or disadvantages of each.