Future Mortgages Remortgage
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Future Mortgages are no longer offering remortgage deals to new customers. Future Mortgages remortgage deals specialised in remortgage applications rejected by traditional high street lenders.
Future Mortgages Review
Future Mortgages was a dedicated lending branch of Citigroup, a major financial company which provides global consumer, corporate and investment banking services in more than 100 countries worldwide. Future Mortgages was formed in 1996, and operated throughout the UK.
Future Mortgages remortgages enjoyed competitive rates, and other benefits such as:
- Repair a damaged credit rating or previous mortgage arrears
- Consolidate debts from credit cards and loans – this leads to a longer repayment term but smaller servicing payments, as the debt is now part of your mortgage
- Reduce your monthly payments with a lower interest rate
What is a remortgage?
A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:
- Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
- Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.
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