Hello!
I've just finished two first years of my mortgage (which was fixed for 2year) and started dealing with re-mortgaging. And I now see that its a hassle,as (1) My property can be evaluated again by an agent (2) My mortgage insuranceneeds to be replaced by new one which for some reason is more expensive (i.e.monthly payments) (3) I am asked to supply salary slips, bank statements etc.again.
Now what happens if in 2 years I loose job and will not be able to supplysalary slips? Also every 2 years I become older and insurance monthly paymentsgrow. And what happens if I'll have some illness?
Is life-time tracker preferable from this point of view?
I've just finished two first years of my mortgage (which was fixed for 2year) and started dealing with re-mortgaging. And I now see that its a hassle,as (1) My property can be evaluated again by an agent (2) My mortgage insuranceneeds to be replaced by new one which for some reason is more expensive (i.e.monthly payments) (3) I am asked to supply salary slips, bank statements etc.again.
Now what happens if in 2 years I loose job and will not be able to supplysalary slips? Also every 2 years I become older and insurance monthly paymentsgrow. And what happens if I'll have some illness?
Is life-time tracker preferable from this point of view?