Definitions for "Remortgage"
To repay one mortgage by taking out another mortgage secured on the same property. This can be done to take advantage of a better interest rate or a special mortgage product.
The arranging of a loan on a property in which the borrower already resides. Normally this involves redeeming an existing loan on the property.
Paying off an existing mortgage and entering into a new one, usually to obtain a lower rate of interest or a larger loan.