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Remember life insurance when remortgaging

Date: Wed, 11 May 2005

Those choosing to remortgage their homes on five-year deals should remember to ensure their have life insurance cover.

The latest Remortgage Index by Your Move shows that more borrowers are looking to remortgage their house on long-term deals.

The figures suggest that demand for two-year discounted variable rate deals has fallen, whilst five-year fixed rates are gaining popularity meaning that some banks are starting to offer potential customers improved lending offers.

"Five-year fixed rate deals are getting more and more attractive for people remortgaging relative to shorter term deals," said remortgage analyst at Your Move, Jon Round.

"Lenders are enticing borrowers with better offers in an attempt to increase business. Canny remortgagers can take advantage of this."

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