January 24, 2010
When a person transfers his or her mortgage to a new lender due to a change in circumstance or because of a more favourable mortgage rate, this process is known as a Remortgage of one’s house. A remortgage is the paying off of one’s old mortgage and obtaining a new mortgage on the same house.
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January 22, 2010
It is important to know what a mortgage is and all its features. A mortgage is a loan, which is taken out to finance and purchase a house. To get it financed, a property needs to be placed as collateral with the bank or financial institution. This gives complete authority to the financial institution to take ownership of your property in case you default on the payment.
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