If you are considering remortgaging your home, there are many questions you need to ask yourself before selecting the product you would like to apply for. One of those questions would be how much you actually wish to remortgage your home for. Many people only remortgage their home to get a cheaper rate, thus making it easier to pay off. Some look to borrow more money and so estimate how much they will need on top of their current mortgage. However, some choose to remortgage or the full value of their home. This 100 remortgage is getting more popular as more individuals get into debt, and with good reason.
Obtaining a 100 remortgage is effectively starting again with a different product. It would pay off your existing mortgage and allow you to borrow the rest of the money, up to the value of your home minus your existing mortgage, for whatever purpose you have in mind. In fact a 100 percent remortgage can actually be used for a variety of purposes, including debt consolidation, home improvements and large purchases.
All providers do not offer a 100 remortgage because it is perceived as a bigger risk than offering a part remortgage. The number available has also declined because of the credit crunch that is ongoing at the moment so you should make sure that your application for one is complete. You may have to look around for he right remortgage before finding the perfect one for you, but when you do find it do not let it go. A good remortgage can give you, your home and your finances the breath of fresh air that is needed and set you back on track. Make the most of it while you can!