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Many questions arise when the term mortgage is utilised. Mortgage is nothing at all but a way of taking a loan. Here, individuals use their tangible assets such as properties to take a loan or rather repay a loan. Such loans are usually much longer in duration. Many borrowers seek another mortgage to repay an existing mortgage. This practice is known remortgage calculator London or refinancing. With loans available aplenty, consumers have no qualms over borrowing huge sums to pay off existing debts leading to more debts.\r\n\r\nMortgages and remortgages are usually equivalent to the value of the property secured. In case the debtor cannot repay the loan; the property will be seized and sold off by the lender to recover the remainder of the loan amount. With debts soaring, it is amazing to see lenders offering even more deals and offers to entice users to take loans to finance their debts. Deals are many and some of them offer lower interest rates. Some deals also offer a longer duration of payment. Some other folks offer more remortgage uk amount than the property insured. Be what it may, the deals are an enticing prospect for customers.\r\n\r\nThe 100 mortgages and remortgages industry operates on people buying into the deals that are only for specific duration to create an artificial desire. Lenders like to keep the borrowers paying for a longer duration as the interest is usually much increased in such cases. Sometimes, lenders also charge an early repayment fee which is termed as a penalty in many cases to keep individuals away from finishing off their loans.