Items Tagged With refinance

We can add the following to the basic 15 Steps To Reducing Your Mortgage:

1. Buy a house rather than a flat
   
   
2. Always keep your monthly payments WITHIN THE MONTH CONCERNED - even a few days out can cost you dear for the rest of the year, or when taking out another loan
   
   
3. Go direct to the lender
   
   
4. Try NOT to take out a mortgage with the same bank that holds your current account - they say that power corrupts and absolute power...
   
   
5. DON'T take out a foreign currency mortgage
   
   
6. Unless you really need to, avoid taking out a long term fixed rate mortgage - rates tend to be high and you almost always never do it at the right time
   
   
7. Don't over-capitalise the property with "improvements" - buy as large a house as you can, rather than one you have to keep adding to
   
   
8. If your eyes really are bigger than your pocket, consider a "split equity" type of deal (more of these later)
   
   
9. Choose well and stick with your decision - like good investments a good mortgage is worth sticking with rather than switching from one fad to another, particularly when you consider the charges involved in remortgaging