Mortgage Equity - Cheap Mortgage Deals

This is the difference between the amount you owe on your current mortgage and the current value of your property. This amount can be used in a remortgage or release of equity.

Remortgaging

Remortgaging has become very popular with home owners since the rise in property values has meant almost all property owners now have increased equity in their homes. The remortgaging process is far shorter since there are no new properties involved, although you will still need to have your home valued and searches carried out.

If you have a significant amount of other debts outstanding your mortgage company will often want to know about them and expect you to use some of your remortgage capital to be used to pay them off. Your solicitor will normally be expected to forward the funds directly from their account once the funds have been released to them.