remortgage
New home loan
To remortgage is to take out a new mortgage on a property you already own, typically to get better terms, release equity, or switch lenders.
Common in British English; Americans more often say refinance.
We remortgaged to fund the renovation.
Interest rates dropped, so they decided to remortgage.
Obtain new loan terms
- refinancingReplacing a loan
- lenderOne who loans money
- borrowerOne who takes temporarily
- underwritingRisk evaluation and acceptance
preapproval · approval · application · fixed-rate · adjustable-rate · points · maturity · amortization
Overdue financial obligations
- defaultPreset standard option
- foreclosureLender seizes mortgaged property
- underwaterBelow the surface
- overduePast expected arrival
liabilities · obligations · repayment · creditors · burden · collection · insolvency · bankruptcy
Estimation of worth
- valuationAssessment of monetary worth
- appreciationRecognition of worth
- loan-to-valueDebt-to-collateral ratio
- collateralSecurity for debt
asset · ownership · stake · leverage · liquidate · cash-out · capital · homeownership
Residential building
- apartmentRented unit in building
- condoOwned multi-unit dwelling
- townhouseAttached multi-floor urban residence
- dwellingPlace of residence
residence · freehold · leasehold · land · deed · title · ownership · conveyancing
Restoring to good condition
- extensionAdded part or duration
- investmentDeploying capital for returns
- buy-to-letProperty purchased for tenants
Ability to repay debts
- qualificationRequired skill or condition
- affordabilityState of being purchasable
- assessmentFormal evaluation of worth
- riskPossibility of harm
identity · fraud · bureau · monitoring
refinance
Obtain new loan terms
- refinancingReplacing a loan
- lenderOne who loans money
- borrowerOne who takes temporarily
underwriting · preapproval · approval · application · fixed-rate · adjustable-rate · points · maturity · amortization · repayment
arrears
Overdue financial obligations
- defaultPreset standard option
- foreclosureLender seizes mortgaged property
- underwaterBelow the surface
overdue · liabilities · obligations · repayment · creditors · burden · collection · insolvency · bankruptcy · delinquency
appraisal
Estimation of worth
- valuationAssessment of monetary worth
- appreciationRecognition of worth
- loan-to-valueDebt-to-collateral ratio
collateral · asset · ownership · stake · leverage · liquidate · cash-out · capital · homeownership · savings
house
Residential building
- apartmentRented unit in building
- condoOwned multi-unit dwelling
- townhouseAttached multi-floor urban residence
dwelling · residence · freehold · leasehold · land · deed · title · ownership · conveyancing · surveyor
renovation
Restoring to good condition
- extensionAdded part or duration
- investmentDeploying capital for returns
- buy-to-letProperty purchased for tenants
creditworthiness
Ability to repay debts
- qualificationRequired skill or condition
- affordabilityState of being purchasable
- assessmentFormal evaluation of worth
risk · identity · fraud · bureau · monitoring
- mortgageshome loan, home loans, down payment, refinancing, refinance
- UK Propertyfreehold, leasehold, estate agent, council house, terraced house
- housing marketstarter home, first home, fixer-upper, condo, flat