Refinancing my home loan
by Penny on December 17, 2007
I’m fed up of paying high interest for a property meant as an investment that is not going anywhere. So I’ve decided to refinance it. I’ve talked to 4 banks so far and I’m hoping to close this soon as I would like to start the new year with better cashflows.
But I’m still pondering whether I should cash-out some portion of the loan so that I have some cash in-hand for future use whether as investments or to do some small scale business.
Decisions, decisions, decisions!
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A little bit about Penny, author of this blog
I want to learn the art of creating, managing and preserving wealth. It's not as easy as ABC but I believe it can be done well with lots of determination, discipline and perseverance. To date I've written 211 posts relating to money matters on this site.
I own a blogshop, Penny's Online Shop, offering trendy ladies apparels at very reasonable prices. I also write a shopping blog, a mummy blog as well as a contributor to a health & wellness blog.
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I was surprised to read that mortgage providers have received a record amount of complaints according to the Financial Service Authority, (FSA).
More than 12,700 complaints were made in the second part of 2008. This figure is double the amount of complaints received in the first half of 2006 when complaints reached 6,837. However, it is below the 15,776 which were recorded in the first half of 2008.
The figures reveal that only 38 per cent of all mortgages such as fixed mortgages and mortgage complaints were upheld by the FSA in the second half of 2008, down from 48 per cent in the first half of 2006. Oh dear.
However, the best way to find a good mortgage is via mortgage leads. To know more click here.