What context can I use each word in?
Learn when and how to use these words with these examples!
remortgaging
Example
We are considering remortgaging our home to get a better interest rate. [remortgaging: verb]
Example
The bank offered us a lower interest rate if we consider remortgaging our property. [remortgage: gerund or present participle]
refinancing
Example
We are refinancing our car loan to get a lower interest rate. [refinancing: verb]
Example
Refinancing our mortgage will allow us to save money on monthly payments. [refinancing: gerund or present participle]
Good things to know
Which word is more common?
Refinancing is a more commonly used term than remortgaging in everyday language. Refinancing is a broader term that can apply to any type of loan replacement, while remortgaging is specific to mortgage loans.
Whatโs the difference in the tone of formality between remortgaging and refinancing?
Both remortgaging and refinancing are formal terms used in financial contexts. However, remortgaging may be considered more formal due to its association with mortgage loans and legal procedures.
