Remortgaging - what you need to know
(for all nations)
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'Remortgaging' is taking out a new mortgage with a lender without moving home. It can be used if you want to borrow more money (perhaps for home improvements) or to reduce payments. There are different types of mortgages, eg repayment, endowment, pension and interest only, with different types of interest rates such as variable, discounted, fixed and capped. There are other costs to consider when re-mortgaging such as fees, insurance, and any redemption penalties.
