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A mortgage is a loan taken out to pay
for the purchase of property, usually a
house. Due to the size of the loan the
lender will usually take security to
cover themselves in the event of non
payment of mortgage instalments; usually
they will hold the deeds of the house
for this purpose. Mortgages in the UK
are usually taken out over 25 years,
although with rising house prices
pricing first time buyers out of the
market this term is often exceeded to 30
or 40 years.
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Remortgages are very popular, and with
good reason. Whether you are switching
your deal for a better remortgage rate,
more suitable conditions, better service
or increasing the size of your home
loan, there are plenty of deals for
remortgages available. Banks, building
societies, specialist lenders and
mortgage brokers can all accommodate
your remortgage needs. |
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