Refinancing Your Mortgage Or Remortgages Explained

Remortgaging is basically another word or term to refinance your home loan. This maybe to get a better interest rate from a different lender. It maybe to release equity in the property or it maybe even a way to complete a renovation or building extension. With refinancing it normally involves taking out a new mortgage with either a new lender or your current lender and then using that to first pay off any existing mortgage.

Basically when one applies to re-mortgage, it is basically starting from scratch all over again.