There are several loans that form the group known as home loans, but two main players in this group are mortgages and remortgages.

These are both secured loans and what they are secured against is the asset of a homeowners property, and the maximum sum of remortgage or mortgage available is depends on the amount of equity.

If you are not familiar with the term equity this is the amount left when the mortgage secured on the property is deducted from the value of the property itself.

An example of what equity in fact is, on a property valuation of 280,000 and a mortgage outstanding of 80,000, the available equity would be 200,000.

Mortgages and remortgages of 100% LTV are no longer available.

The are not many banks or building societies who now grant 95% loan to value mortgages and remortgages now. There are indeed only a few mortgage lenders prepared to give remortgages and mortgages at 90% LTV.

It is all very different from the past when before the credit crisis borrowers could easily obtain a mortgage or remortgage of 100% the value of the property. There was even availability of 125% mortgages and remortgages from The Northern Rock. This foolish reckless lending was naturally what caused much of the credit crunch.

Remortgages and mortgages have low rates of interest currently and tracker remortgages and mortgages are at an all time low.

The tracker remortgage and mortgage do exactly as it says on the box and that is why they are so low at present as they track the Bank Of England Base lending Rate of 0.05%.

At the momnt tracker mortgages and remortgages are available from 1.98% for those with a maximum 60% LTV and from 1.99% for those with a maximum 70% LTV. Although there is a bit of gloom and doom in the financial sector mortgage products are still available as well as cheap.

Fixed rate remortgages and mortgages are also readily available from about 3%, and as such the mortgage and remortgage sector still offer good mortgage deals.

For more information please visit remortgages