Weighing up refinancing and reverse mortgages
When thinking about reverse mortgages you always have to consider the prospect of taking out a regular mortgage or a remortgage instead. When weighing up the options there are important considerations to make and keep in the back of your head whenever the idea comes up or you talk about it over the Christmas dinner with your family. These considerations go something along the lines of this: A particular reverse mortgage may have a higher interest rate than regular mortgages or refinance such as remortgages. On the other hand, a refinance mortgage will demand that you make regular monthly payments to pay the money back.
