3 Questions to Ask Your Remortgage Broker

When you are dealing with a remortgage broker there are a few things that you will want to verify. The remortgage process can be very confusing and you will want to make sure that you understand everything about it. If you ask the right questions, you can avoid a lot of the confusion that comes with the process. Here are a few questions that you need to ask your remortgage broker before you go through with the deal.

1. What Are the Terms?

You want to make sure that you understand all of the terms of the loan. Many people have rushed into an agreement just to find out that they agreed to something ridiculous. You'll want to verify the interest rate, whether or not it is fixed, and what the length of the mortgage is. 

2. Is There a Prepayment Penalty?

Many people end up paying their mortgage off early. Most people do not live in their houses for very long. If you sell your house within a few years, you want to make sure that you are not paying any prepayment penalties. 

3. Is This a Promotional Rate?

Many people mistakenly sign a remortgage contract thinking that they are getting a great deal only to find out that it is a promotional rate. Do not allow this mistake to happen to you. 

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