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What Remortgage Information Do I Need to Know?

Remortgaging is something that most homeowners will consider at some point. Whether you’ve come to the end of your current mortgage term or you’re hoping to secure a better deal, learn more about your remortgage options in our expert guides.

Posted On: September 29, 2021
Updated On: January 16, 2023

How To Remortgage To Release Equity

Most homeowners look to remortgage in order to lower their monthly repayments and free up some extra cash. This can be an effective way to collect enough money for a deposit on a new home, but also to help lenders view you more favourably if you have more money in the bank each month. It’s not just about buying another property, you may want to release equity to make home improvements, consolidate debts, or even to support a loved one financially.

If you’re not sure how this process works, we’re revealing all in this helpful guide.

What is ‘Equity’?

Equity refers to how much of the property you own outright. In other words, your deposit amount plus the mortgage amount you have already paid back.

What does it mean to ‘Release Equity’?

If you remortgage, you can lower your monthly mortgage payments which can help you to ‘release equity’. The more of the property you own and the more the value has increased since your purchase, the better your chances of securing a favourable remortgage with a cheaper rate.

How can you remortgage to release equity?

  • Is it worth it? – If the amount of outstanding mortgage has lowered considerably and the value of your property has increased, then remortgaging to release equity will probably be worth it. Of course there are other factors that come into play with regards to how much lenders will let you borrow. Your earnings, expenditures and credit rating will all be taken into account, just like when you got your first mortgage.
  • Speak to a mortgage broker – This is by far the easiest way to remortgage to release equity. They can cover the whole process, including researching the value of your property. A ‘Whole of Market’ remortgage broker, such as Agentis, will be able to look at multiple lenders to find one that offers a favourable rate for your remortgage.

Speak to Agentis today

To find out how much equity you could release through a mortgage, speak to Agentis today to arrange your free initial consultation. We can help you determine whether remortgaging can help your financial outlook.

*You may have to pay an early repayment charge to your existing lender if you remortgage.