What does Remortgage Mean

2 months ago, Wed, Dec 30, 2020, 16:06:26
I will tell you what does Remortgage Mean. A Remortgage is when a mortgagor or his or her lender transfers the existing mortgage from one property to another. A borrower who intends to apply for a remortgage must firstly decide what he or she intends to do with the property. There are two main types of remortgages namely equity remortgage and adverse credit remortgages. An equity remortgage is when the mortgagors' home is taken over in order to pay off the existing mortgage. On the other hand, an adverse credit remortgage is when the borrower transfers the mortgage but does so through a lender that specialises in dealing with the very situations that the borrower is in. If you need to buy a property in the UK, Hamilton International Estates offers apartments, flats, houses and properties affordable prices. Call Me: +44(0)1628 397840