Get Cash with a Remortgage

If you have plenty of equity in your property (ie your home is worth a lot more than the borrowing you hold against it), a remortgages could be the easiest way of getting your hands on some cash. During the boom years when property prices kept rising, many thousands of people remortgaged to raise cash every year. The process is also known as 'releasing equity' from your property.

In effect, you are increasing the size of your mortgage in order to free up funds. Many home-owners use the money to pay for home improvements, but you could remortgage for any reason - to pay for a holiday, buy a new car, or to invest elsewhere, for example. since the credit crunch, the trend has reversed and more homeowners have overpaid on their mortgages than extended them. But a remortgage could work if you have equity and need to raise cash.