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Quick Remortgage

Updated on July 27, 2010

Quick Remortgage Solutions

Homeowners that are faced with imminent foreclosure needs to have a resolution that will take care of that problem and fast. You can always use a foreclosure problem to apply for a quick remortgage loan and keep your home. But to be able to save your home, it is crucial that you find lending companies that can promptly process remortgage loans without any delay.

If you want to narrow your search, the best place to look for remortgage lenders that offer fast remortgage loans is the Internet. The web is supplied with a large number of lending firms that can help find a quick solution your problem. If you are good with your search, you’d also find directories that will allow you to compare interest rates on various fast remortgage deals.

Turnaround Time of Fast Remortgage Loans

When you apply for a fast remortgage loan, you’re main concern will be the turnaround time. For you to get what you need, you will need to provide necessary information that will help determine the gravity of your situation. They will ask if you have done your part in securing the loan and the level of progress you are in by doing it on your own. Online remortgage lenders will ask if you have applied for a remortgage with your current loan provider and if your answer is yes, they would ask if the loan is still in process or if you didn’t get an approval.

You will need to inform them of any arrears or late payments since problem remortgage may take time to get an approval due to your inability to keep up with your mortgage payments. With an online application for quick remortgage loans, you will be asked if you are worried that any time now a letter of intent to repossess your home will be sent to you or in worst cases was already sent to you. They will ask how fast you need them to work on your remortgage loan as to your expected turnaround time. Some borrowers with foreclosure problems may need the remortgage loan as early as the same day they applied for it, some may need it in a week’s time or within month.

Determine the Purpose of your Loan

If your need for a quick remortgage is for a different purpose, an explanation for the intent of your loan is needed. There are several reasons that are often used to gain fast remortgage loans such as funds for home improvement projects, college tuition, medical bills or the attempt to better interest rates on their current mortgage. Online remortgage firms will need the following information to evaluate your application for a fast remortgage.

  • name and contact information
  • name of your current mortgage provider
  • the amount of your original loan
  • the amount of your current outstanding loan
  • monthly mortgage payment
  • interest rate on your mortgage
  • original price of your mortgage property when first purchased
  • current market value of your mortgage property
  • the amount you need to borrow for your fast remortgage loan application

Some online remortgage firms will offer mortgage calculators. You can also find those that offer the use of an equity release calculator for those aiming to cash in on their home equity. With this online gadget, you’d be able to figure the amount of your supposedly monthly payment by calculating the total amount of money you will borrow from the number of years you intend to pay the remortgage loan. With this you’d be able to manipulate the numbers to accommodate how much you can pay.


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