If there’s one thing that you are going to do as a homeowner, it’s going to be studying all of your options before really making a decision. It might sound boring at first, but if you really want to wrestle information within the mortgage industry, you’re going to need to be on your toes. Thankfully, we’re here to help.
If you’re in the middle of trying to decide between a loan on your property vs remortgage, don’t worry — you are in good company. There are some pros and cons to each decision, along with important information that you need to know.
First and foremost, you need to understand that if you go with a loan on your property, you need to have sufficient equity in the home. This is true for the remortgage as well, but it’s even more so if you’re going to get a loan against your property. You are basically making sure that the lender has something to collect against in case you truly default on the loan. Continue reading “Studying Your Choices – A Loan On your Property or Remortgage”