Five Reasons to Consider a Remortgage

By: Nicholas Hunt

Gone are the days when we took out a mortgage and stuck with it for life, until the debt had been completely repaid. The remortgage market is big business these days, and taking a look at the options available could considerably improve your finances. What are some of the reasons for considering switching your mortgage?
1) Get a better deal: Are you sure that your current mortgage is the best one you can get? The market is very competitive and mortgage providers are desperate to attract new business, usually by offering special deals to people who switch their mortgage over to them. As well as aiming for a lower interest rate and lower monthly repayments, remortgaging could net you other benefits such as cash back, free home insurance, or other valuable extras depending on the deal.
2) Lock in a low rate: Interest rates are at historic lows, even taking into account the recent rise. Many experts are predicting that rates will begin to rise again over the next few months and years, leading to more expensive mortgages. By replacing your variable rate mortgage with one that has a rate fixed for a few years, you can protect yourself against future rises in the interest rate.
3) Release equity: As house prices have gone through the roof over the last decade or so, many people find that they are sitting on a large amount of equity in their home - the difference between how much their house is worth and what the outstanding mortgage balance is. Taking out a remortgage that will pay off your current mortgage and also give you some extra funds is an effective way of unlocking some of this stored wealth, providing you with the funds you need for home improvements, a holiday or wedding, or any other large expense. It is often cheaper to raise the money with a remortgage than by, for example, taking out a personal loan.
4) Debt consolidation: It's well known that the public as a whole are in debt to a level never seen before, with easy access to relatively cheap credit providing the temptation to 'live now and pay later'. Nonetheless, the money has to be repaid at some time, and credit cards and the like aren't an ideal way of obtaining long term credit. Taking out a remortgage large enough to cover both your mortgage and your other debts will simplify your finances, leaving you with a single monthly repayment to make, which will usually be for a smaller amount than your total repayments at the moment.
5) Change your mortgage type: People's circumstances change over time, and what might have been an ideal mortgage a few years ago when you took it out might not be the most suitable for your current needs. Maybe you want to switch from an interest-only mortgage to a capital repayment one, or you might want to take advantage of some of the more recent features of mortgages such as flexible payments or offsetting - a remortgage can give you the chance to get a deal more in tune with your current circumstances.Bearing all the above in mind, a remortgage might seem like an ideal way forward for restructuring your finances. It's important to remember though that the decision to remortgage is not to be taken lightly, as you could potentially be putting your home at risk if you get it wrong, and so it's essential to seek the advice of a properly qualified mortgage advisor if you are in any doubt.
Article Source: http://www.approvedarticles.com/
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5 Ways To Raise Credit Score

It's not as hard as you think to raise credit score. It's a well known fact that lenders will give people with higher credit scores lower interest rates on mortgages, car loans and credit cards. If your credit score falls under 620 just getting loans and credit cards with reasonable terms is difficult.
There are more than 30 million people in the United States that have credit scores under 620 and if you're probably wondering what you can do to raise credit score for you.

Here are five simple tips that you can use to raise credit score.
1. Get a copy of your credit report
Obtaining a copy of your credit report is a good idea because if there is something on your report that is incorrect, you will raise credit score once it is removed. Make sure you contact the bureau immediately to remove any incorrect information.
Your credit report should come from the three major bureaus: Experian, Trans Union and Equifax. It's important to know that each service will give you a different credit score.

2. Pay Your Bills On Time
Your payment history makes up 35% of your total credit score. Your recent payment history will carry much more weight than what happened five years ago.
Missing just one months payment on anything can knock 50 to 100 points off of your credit score.
Paying your bills on time is a single best way to start rebuilding your credit rating and raise credit score for you.

3. Pay Down Your Debt
Your credit card issuer reports your outstanding balance once a month to the credit bureaus. It doesn't matter whether you pay off that balance a few days later or whether you carry it from month to month.
Most people don't realize that credit bureaus don't distinguish between those who carry a balance on their cards and those who don't. So by charging less you can raise credit score even if you pay off your credit cards every month.
Lenders also like to see a lot of of room between the amount of debt on your credit cards and your total credit limits. So the more debt you pay off, the wider that gap and the better your credit score.

4. Don't Close Old Accounts
In the past people were told to close old accounts they weren't using. But with today's current scoring methods that could actually hurt your credit score.
Closing old or paid off credit accounts lowers the total credit available to you and makes any balances you have appear larger in credit score calculations. Closing your oldest accounts can actually shorten the length of your credit history and to a lender it makes you less credit worthy.
If you are trying to minimize identity theft and it's worth the peace of mind for you to close your old or paid off accounts, the good news is it will only lower you score a minimal amount. But just by keeping those old accounts open you can raise credit score for you.

5. Stay Out Of Bankruptcy
Bankruptcy is the single worst thing that will destroy your credit score. Bankruptcy will lower your credit score by 200 points or more and is very difficult to come back from.
Once your credit score falls below 620, any loan you get will be far more expensive. A bankruptcy on your credit record is reported for up to 10 years.
The reality of a bankruptcy is it will limit you to high-interest lenders that will squeeze out high interest rate payments from you for years.
It is better to get credit counseling to help you with your bills and avoid bankruptcy at all costs. By getting credit counseling instead of declaring bankruptcy you can raise credit score over a much shorter period of time.
http://www.amortgage4you.co.uk/article-raise-credit-score.html

Student Loans UK: Supporting Student Financially by Peter Taylor

Pursuing for higher studies or professional course has become challenging because of the hike in the admission fees and other related expenses. However, future of a nation is dependent upon the education and for this reason all the finance lending institutions have come forward to aid the economically challenged students under the loan plan named as student loans UK.
Student Loans UK assist students with the necessary finance and meet the expenses that might come or comes in the way while pursuing higher studies. The loan can be borrowed for aboard studies as well as for pursuing studies in reputed institutions. Without the adequate money at hand, students very often cannot continue their studies and have to leave in the middle of the course. Thus taking notice of such instances, student loans UK are offered even in the stage of have poor or no credit status. Applicants can approach lenders for student loans UK and get the amount with or without pledging collateral.
Loan amount that can be borrowed is limited and depends entirely upon the use and the equity of the collateral. The multiple demands and expense that can be supervised in a single loan are as follows: admission fees, books, computer, laboratory instruments, accommodation and fare etc. Very often it is noticed that borrowing of loans is easy and repayments are rigid thus making repayments unsuitable. But, student loans UK has followed the flexible reimbursement loan. Borrowers can start repaying the loan amount after six months or completing the course. The interest rates of student loans UK are not ignored rather have been calculated making it economical and easy to afford.
Click the online application form and approve the student loans UK from home. This is the easiest and straight forward way to get the loans. All you to have to follow is furnish the details at the space. So, now onwards you can carry on your education or support the education of your dear ones with the aid of student loans UK.

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Bad Credit Remortgage - get rid of high rate mortgage with ease by Roger John

If you have a bad credit history and want to get rid of existing mortgage then still you have options in doing so. The loan market place is full of bad credit remortgage providers who are ever willing to give a new mortgage as per your circumstances.
Bad Credit Remortgage means bad credit history people can switch existing mortgage to a new mortgage for host of benefits. Remortgage allows in replacing current mortgage of higher interest rate with a new mortgage of lower rate. This way you save lots of money on interest payments each month and can use it for other purpose including paying for remortgage installments. There are many reasons for taking a bad credit remortgage. For instance you can reduce monthly outgo or you can release extra money in your home for home improvements, buying car, wedding, going to holiday tour and so on.
Bad credit is usually no hurdle in taking a remortgage as lenders have little risks. This is because the same home can be used as collateral for remortgage. The lenders however ensure that your repaying ability is sufficient. So your income and bank statements are seen by the lenders prior to approving the loan. take a convincing repayment plan to the lender for better approval results.
Take rate quotes of bad credit remortage lenders for comparing them. Comparison of remortgage lenders is prudent as this way you find out suitable lender providing remortgage at lower interest rate than rate on existing mortgage. You are also advised to take remortgage from online lenders as they have lower rate offers for bad credit people as compared to banks and financial companies. And ensure to repay the remortgage installments regularly in time to avoid building up of debts and also to improve credit score.

http://www.goarticles.com/cgi-bin/showa.cgi?C=630039

Subprime Second Mortgage - Who Needs One(By Mike Hamel )

Subprime lenders are providing first mortgages, second mortgages and home equity loans to those who don't qualify for conventional financing. Many of the more than 19,000 mortgage lenders in the U.S. offer some form of subprime mortgages.Subprime borrowers are people with a FICO score of 620 or lower. In fact, the “sweet spot” for the subprime industry consists of borrowers with credit scores between 620 and 640. Bad credit means you will pay more when you borrow money. However, a subprime second mortgage could still save you thousands of dollars over other forms of borrowing.Prior to the widespread availability of subprime loans, many deserving people with poor or insufficient credit histories could not get a mortgage. Now these folks are able to become proud homeowners as part of the American Dream.A subprime second mortgage makes sense when you don’t want to refinance your first mortgage but want to access your home equity for legitimate reasons such as home improvements, debt consolidation, medical bills or college tuition. As an added bonus, the interest paid on a second mortgage is usually tax deductible.Borrower BewareRecent research reveals that subprime mortgages are three times more likely to happen in minority neighborhoods. Even affluent minorities are more likely than whites to take out subprime mortgages. The AARP notes that older female borrowers held 45% of subprime mortgages and only 28% of prime mortgages.Some dishonest lenders will try and exploit the financial troubles of borrowers by offering easy-but-expensive credit that could lead to them eventually losing their homes. Or, these disreputable people resort to exorbitant fees, prepayment penalties or balloon payments to snare the unwary.Learn more about how to avoid Subprime Second Mortgage fraud, and get a free loan quote at Easy Second Mortgages. Even if you have bad credit, you may still qualify for a good second mortgage.Mike Hamel is the author of three business books and several articles about mortgage financing. His material is featured on sites like Easy Second Mortgages.

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Personal Loans - Making Your Holidays Better (By Amenda Dorothy)

For British holidaymakers, Thailand is the most preferred destination. The country is better known for its ancient temples, beautiful beaches and mouth-watering cuisines. So, plan a visit to Thailand with your family and enjoy the exotic locations there. You can also think of visiting countries like Australia and India, also the favourite destinations and ranked second and third for the British visitors.As far as the financial implication of a foreign tour is concerned, you must give due thought to it and properly plan your finances. First of all, make it a valid point to avoid using your credit cards while abroad. The credit card companies usually charge hefty fees whenever a credit card is used outside the country. Secondly, make your budget and try not to exceed it during the holidays.If you find that your budget is far exceeding your savings and cash available with you, apply for a. Personal loans can be secured, as well as unsecured. If you do not have any security to offer to the lender, go for an unsecured personal loan since this loan does not require any security. Personal loan is quick to get and can solve your purpose. You can get £25,000 from the lender at competitive rate.Personal loans are very easy to obtain. You can apply online and request the lenders to send loan quotes. Once you receive quotes from several lenders, you should compare loans and find out a loan deal that clearly suits your requirements and preferences. This process ensures that you get a good loan deal.Generally, borrowers consider your repaying capability, credit score, monthly income and the amount of loan required before they sanction any personal loans deal. If you have a spotless credit record and decent monthly income, you can easily get a personal loan.About The Author: The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting ask4loan.co.uk as a finance specialist.For more information related to personal loans: http://www.ask4loan.co.uk

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08 Aug 2007 1st Article

Bad Debts Remortgage: Proximity For A Better Future(by George Cummings)

The journey of life becomes bitter when the bad credit tags sting your financial profile. Anyone among these viz. CCJs, arrears, defaults, late payments, bankruptcy might be the reason of your bad credit. To disperse or reinstate is not a matter of concern but rather can surmount in a rational manner with the bad debts remortgage.
Bad Debts Remortgage is a secured form of loan. This loan plan ensures that applicants obtain loans without any hassle and within less time. If empowers or can say provides the bridge to shift the current mortgage to a new lender if he finds the offers more attractive and reasonable. Bad debts remortgage allows victims of bad credit to grab an opportunity to rebuild and least stabile the credit condition. A direct slash in the interest rates can be observed by considering the bad debts remortgage.
Procuring a lender offering the bad debts remortgage loans is not a hard task. But applicants should take into granted the benefits and the marginal interest rates. Applicants should follow the practice of contrasting the figures of interest rates and pick the cheap and marginal one. It is easier to handle the situation and pin point the low interest rates by using the online application procedure. The online process makes it more efficient to approach lenders from home or office.
Bad debts remortgage is what a bad credit person seeks for when they are going through the phase of bad credit. If a through reading is done then certain objectives can be understood that are subtly inserted for the well being of the bad creditors. It contrives policies to accumulate the tattered credit conditions and stitch it...