Benefits of Remortgaging Your Home

For most homeowners your monthly mortgage payments will be your biggest regular outgoing expenditure. Statistics suggest mortgage payments take on average 22% of disposable income. However, for young first time buyers this % can be as much as 50%. (Before remortgaging I paid £890 a month out of a monthly salary of £2,000. These are some of the reasons to remortgage your home.

Benefits of Remortgaging

  1. Mortgage lenders charge a higher interest rate to customers who don't wish to bother remortgaging. Customers who are happy to stay with their current lender will typically pay the SVR of the lender. This is much cheaper than deals available for remortgaging and new customers. Don't lose out on savings of £200 a month, just because it requires some effort.
  2. Switch to a more appropriate mortgage. When I remortgaged I took the opportunity to extend my mortgage term and switch to interest only. This was because I wanted to work part time to invest in a business. Your best option may be to switch to a fixed rate mortgage. A fixed rate mortgage is good for those on the edge of affordability. It means you can avoid being hit by an unexpected increase in the interest rates.
  3. Remortgaging for Equity Withdrawal. If you have debts such as credit cards and personal loans you will be paying interest rates.


Anonymous Anonymous said...

Dear Friend,

The happiest people on this earth are those who have the most interesting thoughts.

One is verily the product of one's thinking. Legal outsourcing in India is running at great boom today, becoming more exciting and challenging - especially with the awareness amongst law firms and BPOs.

Anyone can learn from experience - the costly and time consuming process of trial and error. But KPO CONSULTANTS strongly believes that the better way is to learn and benefit from the experience of others who have traveled our way before us in leading the LPO sector in India. Their experience is gold for the taking. We are grateful that this issue of LPO Watch covers the information-oriented interviews held with the eminent LPO executives.

I convey my gratitude to Robert Glennie, CEO, NewGalexy LPO who assented to share his experience and insights through an interview in this edition. I also thank Soumitro Chatterjee, CEO, Legalcircle and Sampath Kumar - CEO, Zenith Soft who allowed us to seek their expert opinion on several key issues related to LPO sector in India. I am thankful to ALSR, US Embassy, Acumen LPO, Govt of Mauritius, Board of Investment in Mauritius, Sysman Security and Banana Outsourcing for giving special columns for the magazine.

To download -

Leading you on to the road to success...

Yours sincerely,


February 29, 2008 at 5:31 AM  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home