remortgaging
Switching home lenders
Remortgaging is replacing an existing mortgage with a new one, typically to secure better interest rates, release equity from a property, or consolidate debts.
The term is primarily British; Americans more often say refinancing.
We're remortgaging to take advantage of lower rates.
They remortgaged to fund home renovations.
Replacing a loan
- lenderOne who loans money
- underwritingRisk evaluation and acceptance
- preapprovalAuthorization before final commitment
- applicationFormal request document
approval · appraisal · valuation · settlement · conveyancing · solicitor · broker · completion
Borrowed money repaid later
- borrowingTemporary taking of another's
- repaymentGiving back what's owed
- amortizationGradual debt reduction schedule
- principalChief school administrator
arrears · default · foreclosure · affordability · installment · overpayment
Residential building
Wealth used for investment
- appreciationRecognition of worth
- stakeSharpened post or share
- collateralSecurity for debt
- assetItem of value owned
refinancing
Replacing a loan
- lenderOne who loans money
- underwritingRisk evaluation and acceptance
- preapprovalAuthorization before final commitment
application · approval · appraisal · valuation · settlement · conveyancing · solicitor · broker · completion · disbursement
loan
Borrowed money repaid later
- borrowingTemporary taking of another's
- repaymentGiving back what's owed
- amortizationGradual debt reduction schedule
principal · arrears · default · foreclosure · affordability · installment · overpayment
house
Residential building
freehold · leasehold · homeowner · owner-occupier · buy-to-let
capital
Wealth used for investment
- appreciationRecognition of worth
- stakeSharpened post or share
- collateralSecurity for debt
APR
Yearly borrowing cost
mortgage, mortgages, mortgaged, mortgaging, mortgagee, mortgagor, mortgagees, remortgaged, mortgager