Switching Mortgages in the UK
In the UK borrowers wishing to switch mortgages are running into problems as a consequence of Lenders pushing rates up and tightening lending criteria. Lower property valuations is intensifying the pressure on homeowners to find new mortgages forcing borrowers to stay with their existing lenders at often unaffordably increased interest rates. People who have invested money in renovating property find that the revised value does not cover the work done. Also high loan to value mortgages have become unavailable
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