Remortgaging is when you look to move from one mortgage deal to another, either sticking with the same lender or moving to a new one.
A mortgage is likely to be your largest financial commitment lasting you many years, but you don’t necessarily have to stay on the same mortgage as the one you initially took out, as your personal circumstances may, and probably will, change over the years. You can shop around to see if there is an opportunity to save money.
Before you decide to go ahead and switch onto a new mortgage deal, it’s worth weighing up a few things first:
1. There may be an early repayment charge on your current mortgage that you have to pay off before you can switch to a new deal.
2. Make sure your credit score is healthy as the lender will still perform the same affordability checks.
There are various different reasons why people choose to remortgage. Some of these might include :
* Your current fixed deal is up for renewal
* You want to move from interest-only to repayment
* You want to be on a better rate
* You want to be able to make overpayments
* You want to borrow more money
For instance, you may have initially taken out a fixed rate mortgage whereby you pay the same amount every month and the interest rate stays the same. However, once this initial period has ended (it could have been a 2,3,5 year fixed) you will fall onto a standard variable rate (SVR) where you could end up paying a higher interest rate than you were previously. This is usually the time when many homeowners look to remortgage in order to switch to a better mortgage deal.
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It's a new week, so it's time for a new #organizing challenge in the 52 Week Organized Home Challenge. In Week #50 we're beginning the process of creating a home #inventory. That may sound hard, or inconvenient, or just plain boring. Trust me, I know. I've thought and thought and there isn't any way I've really come up with to make you get all excited about this one, except to try to stress how vitally important it is. Not that we like to think about it, but bad stuff like fires, theft and weather events occur every day, and if your stuff is lost what are you going to do? Well, hopefully you have #insurance, because that's what it's for, but the insurance company makes you prove ALL kinds of things before they'll pay your claim. So you need a home inventory.⠀⠀
But people also get caught up in the minutia of creating one of these inventories and then get overwhelmed and don't follow through. Not good. So here's my suggestions for making one that hits the main highlights so it isn't as overwhelming, plus I've provided 2 free #printables, so you've got what you need to assist you in case you need to make a claim to your insurance company. So let's get #organized in 2018 together! (Oh, and not convinced yet you need one. Read the heart breaking comments on this article. One reader explained exactly why her family wished they'd had one after a fire.) ⠀⠀
You can read the article here: (there's a clickable link in my profile)⠀⠀
The weather outside is weather! We’ve had a moderate December so far, but having a fireplace at home would still be awesome. Unfortunately, I’m not on team fireplace.
If you do have one, you’re lucky! Make sure that it is in working condition and well maintained. This includes regular cleaning and safety inspections.
(Missing some of our tribe) but here are some BEAUTIFUL, INSPIRATIONAL, HARDWORKING, & EMPOWERING women I get to work beside & also call my friend. All filled with the purest hearts & filled with so much fun & energetic energy ! Love you babes & thank you for a wonderful time last night ❤️
More often than not, insurance companies fall into tussles and disagreements about certain things. For instance, the amount of loss or the scope of damages during a claim settlement are hot topics for discussion. When these disagreements occur and there is a refusal to negotiate, there is an option. You can invoke something to aid you. No, we’re not talking about invoking an incantation to put a spell on them. We’re talking about invoking the appraisal clause in your insurance policy.
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