Home Insurance
the best deal when insuring your home
Mortgages
Re–mortgages
Typically you would re–mortgage your home if you wanted to realise some of the capital that it represented. This means that during a housing boom when your house has increased in value you would be able to mortgage it for more money and then keep the difference between the mortgaged value and the value of the original mortgage you had on it. This can allow you to realise large sums of cash, however you are still paying for it, this money is essentially a loan against the property, and it just means that you have increased your debt to the mortgage lender, and you are paying this loan off over the period that you have your mortgage over - this means that you pay less each month for the loan, as you get it over a much longer time and at a lower interest rate than would normally be available for a stand alone loan.
Depending on when you got your current mortgage you might be able to save money each month by changing to another provider, particularly true if you are approaching the end of a fixed term on your current deal. It's well worth shopping around to see if you could be better of each month by using another provider.
Some useful links are provided below;