remortgaging Definition
the process of paying off an existing mortgage with a new one, typically to obtain a better interest rate or release equity.
Using remortgaging: Examples
Take a moment to familiarize yourself with how "remortgaging" can be used in various situations through the following examples!
Example
She is remortgaging her house to pay for her daughter's college tuition.
Example
The bank offered a lower interest rate for remortgaging the property.
Example
Remortgaging can be a good option to release equity from your home.
remortgaging Synonyms and Antonyms
Synonyms for remortgaging
- refinancing
- re-mortgage
Summary: remortgaging in Brief
'Remortgaging' [riːˈmɔːɡɪdʒɪŋ] refers to the process of paying off an existing mortgage with a new one, usually to get a better interest rate or release equity. It is a common practice among homeowners who want to save money on their monthly payments or access cash tied up in their property. For example, 'She is remortgaging her house to pay for her daughter's college tuition.'
