Remortgaging - to switch or not to switch?

Summary

Low interest rates make the prospect of switching mortgages very attractive to a ( home insurance quotes ) certain breed of borrower, dubbed 'the rate tart' by the mortgage industry. This article looks at the advantages to switching mortgages.

 

Author: Anna Richardson

Mortgages are devilishly complex to set up, and for most of us, once we've

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got the mortgage ( loans ) all sorted, we're quite happy to leave it that way. However, there's a new breed of borrower, called (not very affectionately) 'rate tarts' by the mortgage lenders, that look around for better deals and switch mortgages when they please.

They're making the most of a very competitive market, in which mortgage lenders are offering lower and ( secured loans ) lower interest rates to get borrowers through the door. It makes sense to switch mortgages if there is money, possibly a very significant amount, to be saved.

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Statutory Wealth Warning:
Your home may be repossessed if you do not keep up your repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.

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