Have An Adjustable Rate Mortgage – Need To Remortgage In A Hurry?
Most people are probably aware that interest rates have been on an upward trend. For those who have fixed rate mortgages it does not really matter. But if you have an adjustable rate mortgage, then you may already have seen an increase in your payments. Because these can go considerably higher, it may be a good time to consider getting a remortgage. Here are some tips on how to do it.
Adjustable rate mortgages are definitely the way to go when it comes to getting lower payments – at least it was the way. The problem with this is that they are only good for a limited time. While your payments are fixed at the start, you can’t beat it. When it goes to the adjustable part, however, with today’s economy, it can become a real nightmare.
Getting a remortgage is about the only solution you have. The quicker that you get it – the better off you will be. If the economy changes for the better in the future, you can always remortgage again.
Ideally, the best time to remortgage is when mortgage rates are more than at least 1% less than what you have now. It is...
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