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For many homeowners, the government mortgage relief program has offered a welcome aid in reworking and refinancing an unwieldy mortgage. Unfortunately, not all homeowners qualify for mortgage assistance from the government even if a mortgage refinance would make sense. Fortunately, you may be able to work with a mortgage lender to refinance your mortgage, even if you don’t qualify for government mortgage aid. Why Refinance Your Mortgage? There are many different reasons to refinance your mortgage. Before you start shopping around for a new mortgage to replace your old one (which is essentially what “refinancing your mortgage” means) you should decide exactly what you want to accomplish by refinancing. Once you determine your objectives,... Read more »

If your mortgage deal is no longer competitive, it may be time to switch. However, choosing the wrong mortgage could cost you thousands of pounds a year. Here are the most important things to consider when planning to switch mortgages. Compare mortgages Your bank may advise you to take on one of their mortgages. Before doing so, make sure you compare all kinds of mortgages and consider taking a mortgage with a different provider – there may well be better mortgage deals elsewhere. Consider the pros and cons of different types of mortgage Particularly if you are taking on a long-term mortgage, you need to consider whether interest rates are likely to rise or fall. For low or falling interest rates, you could be better off with a tracker... Read more »