Archive for the ‘line of credit’ Category

Borrowing more money on a mortgage

October 19th, 2010

It’s often possible to borrow more money on a mortgage, either by extending the current loan or by getting a new one. Although this can be a useful way of obtaining additional funds for some specific purpose, home buyers should be aware that these additional funds must also be repaid, increasing the total amount of the loan, and that this can lead to financial problems over the long term.

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Mortgage options for people with a low salary

October 18th, 2010

People with a low salary can find getting a mortgage to be difficult. Although mortgages may seem out of reach for such a person, there are a number of options.

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Taking out a second mortgage to buy a house

June 30th, 2010

Buying a second house can be a dream for many people, and with rising equity it can suddenly seem to be in reach.

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Should I extend a home loan, get a second mortgage or remortgage?

June 22nd, 2010

Borrowing on the equity that has built up within a house has a number of advantages to getting an unsecured loan.  However there is a further question that presents itself and that is how someone should borrow against the equity that is in a house.  There are three ways to do this, extending a home loan, getting a second mortgage and remortgaging a house.

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Getting a mortgage over the age of 50

June 14th, 2010

A mortgage can be much harder when people get older.  Mortgage companies are for a good reason reluctant to get themselves in a position where a person is paying back their mortgage when they are retired.

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