otherwise known as refinancing. Arranging a new mortgage on your home, often with a different lender, perhaps to release some of the equity or get a better rate of interest.
When you arrange a new mortgage on your home, with a different lender and use the new mortgage to pay off the old one. This could be to withdraw equity to spend on home improvements.
The process of switching your mortgage loan from one lender to another without moving house
The process of moving your mortgage from one lender to another, or choosing a different type of mortgage from your current lender.
Arranging a new mortgage to replace an existing one on a property already owned by the borrower. See also ‘Refinancingâ€(tm).
The process of paying off one mortgage with the proceeds from a new mortgage in order to release capital, or reduce interest payments.
Taking out a new mortgage without moving house. People often take out a remortgage when they wish to switch to a cheaper mortgage or release equity that has built up in their property.
