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.
To take out a new mortgage without moving. Usually done to switch to a mortgage deal with better terms. It may incur fees that must be set against the benefits of reducing the interest rate.
Arranging a loan on a property in which the borrower already resides. Normally this involves redeeming existing loan(s) on the property. See also unencumbered.
This is the process by which a mortgage on a property is moved from one lender to another. The new mortgage is used to repay the existing lender and at the same time additional funds may be raised for other purposes. Remortgaging has become an increasingly popular way to take advantage of the competitive deals offered by lenders to attract new business. If a remortgage is being considered then careful attention should be paid to the costs associated with arranging the remortgage as well as the savings to be made on the monthly repayment ( the costs can sometimes erode any savings to be made ). The remortgage calculator on this site highlights costs to take into account when considering a remortgage. A check should also be made with the existing lender to ensure that there are no early redemption charges.
The process of moving your mortgage but not your home. Replacement loan taken out by the same borrower secured on the existing property and usually, but not in all cases, with a different lender.
This is changing your mortgage without moving house.
When you switch your existing mortgage to another lender
a change of mortgage from one lender (or product) to another lender (or product), with the aim of securing a more competitive or appropriate deal, raising extra money, paying off part of your mortgage or maybe to consolidate existing debts
a cheap loan which can be used for releasing equity and raising finance, debt consolidation
a great manner of saving the money, because it is likely to lower your interest rates of interest of mortgage
a great way of saving money, as it is likely to lower your mortgage interest rates
an additional mortgage taken out on an existing home mortgage loan toeither
a perfect way of creating that space for your new family
a process that replaces an existing mortgage loan with a new loan from a different lender
a relatively inexpensive form of borrowing if the value of your property is greater than your current mortgage
a way of changing from your current lender to another lender, such as Furness Building
a way of releasing equity from your existing home, in order to consolidate loans, to raise money for lots of different reasons (home improvements, buying overseas property, helping the kids with a deposit for their first home
Paying off one mortgage loan and taking out another with a different lender
A remortgage is when you decide to switch your existing mortgage without actually moving house. Normally this involves redeeming an existing loan on the property. You may well want to remortgage if you are looking to raise extra cash or save money on your repayments. Take a look at our remortgages page to see how we can help you.
Taking a fresh mortgage on an already-mortgaged property. In a remortgage, the remainder of the old mortgage debt is paid off by the new loan.
Replacing an existing mortgage loan with another one.
New mortgage taken out by a property owner without the mortgagor moving home.
Obtaining a new mortgage which is used in whole or in part to repay the existing mortgage.
When you move your mortgage to another lender. You might be able to get a better deal, but watch out for redemption penalties. Also, it's always worth checking to see whether your current lender can give you a better deal before going to the extra trouble and expense of moving to another.
A new mortgage although you are not moving home.
Switching a mortgage to a new lender.
A secured loan taken to repay an existing mortgage but can also be used to raise additional funds in excess of the original debt.
Another loan/mortgage taken out by a borrower to replace another one secured on the same property.
Taking out a new mortgage with a different lender on a property that is already mortgaged.
Loan taken out by a borrower to replace another one secured on the same property. Typically taken out by borrowers switching lenders to achieve a better rate. We specialise in this service.
A remortgage is a new mortgage loan that you take out without actually moving house. You will normally redeem your existing mortgage and then take out a fresh loan either with your existing lender or a new one. The new loan could be higher than your previous one, enabling you to use the extra cash for home improvements or debt consolidation.
Transferring your mortgage without moving house.
A Remortgage is a new mortgage which is arranged through a different lender. You use this by getting a new mortgage on your house, a remortgage, remortgages, remortgages uk, uk remortgages are all terms used to describe uk remortgages. The difference between what you have already paid off of your current mortgage and the current value of your property is classed as equity in your property. You can have a new mortgage on your existing home either the same size and have a lower mortgage repayment or make it bigger and have funds for debt consolidation, home improvements or a holiday.
This is a new mortgage which is taken out to replace your existing mortgage, without moving house, often due to cheaper payments or to release equity.
The process of paying off one mortgage with the proceeds from a new mortgage using the same property as security.
Switching your mortgage from one lender to another without moving home.
The process of taking out a new mortgage, or changing mortgage lenders.
Repaying one mortgage by taking out another secured on the same property, possibly to take advantage of a particular mortgage product or better interest rate.
A replacement mortgage on a property you already own.
When a borrower moves a mortgage from one lender to another this is known as a re-mortgage. The new mortgage will pay off the existing lender and sometimes the borrower may raise additional funds over and above the old mortgage amount. With a competitive mortgage market, re-mortgaging has greatly increased in popularity and many borrowers usually re-mortgage to secure a competitive interest rate. It should be noted that re-mortgages carry costs and the borrower should also be wary of any redemption charges when considering a re-mortgage.
( more) - a new mortgage taken out without the mortgagor moving home.
This is when you switch your mortgage from your current lender to another one. You take out a new mortgage to repay your current one. You may be able to get a better rate that saves you money.
Mortgaging a property you already own, usually replacing an existing mortgage. You can remortgage to obtain lower monthly payments or if you have sufficient equity in your property to raise money for a number of purposes.
The replacement of the original mortgage loan with new finance. You can remortgage to obtain lower monthly payments or, if you have sufficient equity in your property, to raise money for a number of purposes.
Replacement of an existing mortgage loan with another from a different lender.
When a borrower takes out a new mortgage with a different lender but on the same property in order to repay the existing lender. Usually used to obtain a better deal from the new lender or to increase the size of the mortgage to raise funds.
The arranging of alternative finance for the purchase of a property which is already mortgaged. For example obtaining a mortgage with a lower interest rate to replace the existing mortgage.
This is when you move your mortgage to another lender. You may be able to get a better deal, but be wary of redemption penalties. It is also worth checking to see if your current lender can give you a better deal before going to the extra trouble and expense of moving to another.
A mortgage which replaces a previous mortgage.
a mortgage procured for the purpose of paying back a mortgage that has already been taken out with a previous lender. In other words, you swap lenders but do not move house.
replacing a mortgage with a new one (from your existing or a different lender), without moving home. You use the money you borrow for the new mortgage to repay the old one.
The taking on of a second mortgage to pay off the first. The most wonted reasons for doing this are that added mortgage is unpeopled at a overthrow rate or that the value of the property has gone up tolerant for the opportunity to repeat more money in contact with the property.
Where you take out a new mortgage redeeming/repaying any existing mortgage.
A loan taken out, usually with another lender, to repay your existing loan in order to benefit from a new mortgage deal which will result in lower repayments.
The taking on of a second mortgage to pay off the first. The most common reasons for doing this are that another mortgage is available at a better rate or that the value of the property has gone up allowing for the opportunity to borrow more money against the property.
Replacement of an existing mortgage with a new one without change of ownership of property.
A mortgage loan taken out with a new lender for the purpose of repaying an existing mortgage with a different lender, which is secured against the value of the property.
remortgage is a mortgage which is a replacement loan for another mortgage.