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Change your mortgage without changing your home. Friday, July 13, 2007. A re-mortgage is a great way of saving money, as it is likely to lower your mortgage interest rates . A re-mortgage is when someone takes out a new mortgage to repay their existing one in order to realise equity and on occasion to reduce monthly payments. In order to do this you will need to transfer your existing mortgage agreement to another lender. It would be advised to re-mortgage your home.
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