Tuesday, November 20, 2007
I have been discussing with one of relatives about buying a house. I was summing up all the advantages and the disadvantages about buying a house. The most convincing advantage of buying a house is, once you finish paying the mortgage the house becomes your property. It is a great investment. If you renting a house you keep paying, but the property will never become yours.
The interest rates have gone up again. This circumstance made the house owners face problems. The house owners are finding hard to repay their mortgage. The banks have lend money too easily to those, who find it hard to pay back their mortgages, when the interest increase.
I personally would not find any problem. When I would appeal for a mortgage, because I have a fulltime job. I would like to share this site with you. It is called Thriftyscot.co.uk. For a poor credit remortage you can click here. As we all know getting a mortgage is a long time financial commitment. You never know what the future brings. To protect your self against unpredictable circumstances you can get a mortgage payment protection. This insurance covers your mortgage repayments till you are back on your feet after a injury or sickness. This insurance can give you a secure feeling. This insurance will cover the mortgage repayments for a certain period. It is essential to read all the details in the policy. This will give you a idea for how long the mortgage repayments are covered.