Times are hard these days and taking family holidays either here in the UK, and especially in the Eurozone, come at a high price; and if you have to wait until the school summer holidays then the cost of your family holiday more than doubles, and a friend jokingly mentioned to me the other day that the cost of their holiday made him contemplate taking out a remortgage! He was joking of course, and he is one of the lucky ones who works hard and earns good money, but for every one like him there are several who really do need to remortgage for one reason or another. |
When you consider how many people bought their properties at the height of the boom, and those properties are now worth less than, or about the same as when they were purchased, then you may appreciate that they will be unable to sell said properties, so what happens in practice is that the owners will remortgage to extent the premises, turn a loft into a bedroom and generally enhance their house until the good times return again.
And return they will because the property ladder has ever had its ups and downs, but in general the ups have taken rising property prices to new heights whilst the downs rarely go down to the point where the rise started, and when there is a rising property market there is far less need for a remortgage.
About the Author: This Article is written by Arjen Ricci. For more about by Remortgage & mortgage, please visit http://www.ll-mortgages.co.uk/
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