Consumers 'Could Save' With an Offset Mortgage
Offset mortgages currently account for a smaller percentage of the mortgage market but many experts predict that the market could grow increasingly popular in 2007 as more borrowers remortgage to take advantage of the potential benefits. "Though they may not realise it, many households looking for a new mortgage would be better off with an offset mortgage and yet offset mortgages only account for a minority of the market," commented Louise Cuming of moneysupermarket.
"With more than 30 providers now offering offset products and the required level of savings no longer prohibitive, I believe many more people are going to be converted," she added. UK mortgage lending continues at a high pace with net figures in November reaching a three year high of 9.8 billion.
Homeowners are prepared to enter into loan agreements to fund home improvements, according to new reports. Research conducted by PrimeMove suggests that many people are willing to borrow money to make improvements on their homes, as opposed to selling up and buying somewhere new.
Doing so can add significant value to an existing property and subsequently increase its market price. Funds for improvements may be acquired by remortgaging to take advantage of increased equity provided by increasing house prices.
Related Tags: loan, mortgage, deals, home, interest, mortgages, savings, low, save, consumer, remortgage, payments, offset
TML Mortgages specialise in providing mortgages & remortgages within the UK for people with bad credit history or CCJs.
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