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A remortgage (known as refinancing in the United States) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. [1] The term is mainly used commercially in the United Kingdom , though what it describes is not unique to any one country.
The Melbourne-based company will assume Optima Legal's about 22% share of the United Kingdom's remortgage market and will get access to direct relationships with six of the country's top eight ...
The Bank of England has held interest rates at 4.75% in December - following two falls in 2024. Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK.
A further review of staffing levels and overall office space began in 2009. The economic recession and lower volumes of property sales and mortgages meant that HM Land Registry's basic work in connection with remortgages and house sales reduced to the point where it made a financial loss for the first time in many years.
The first UK HELOC product was in 2021, by the fintech Selina Finance. [21] As of 2022, despite less than 5% per capita utilisation of HELOC products compared to mature, established markets such as the US and Canada, UK customers have shown increasing tendency to use HELOC products as a substitute to existing consumer finance tools.
With UK interest rates at their highest since 2008 and seen rising further, borrowers may switch lenders for a better deal. PEXA Group buys UK remortgage processing firm as rate hikes seen ...
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