French Property Forum

[Delacre]

Hi,

Can you please explain what remortgaging is?

Thank you in advance

[Valence]

Remortgaging is a process that replaces an existing mortgage with a loan from a new lender. Remortgaging is almost identical to refinancing, the only difference being that a remortgage always involves a new loan from a new lender. A refinance involves a new loan from the existing lender or a new lender. The concept of remortgaging is relatively new in France but can offer a variety of benefits.

[Fergal]

Remortgaging means when your property is first time get finance through a financial institution and you get new loan on this property . This is called remortgaging.

[Awahid20]

A remortgage (also known as refinancing) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. The term is mainly used commercially in the angla saxon countries such as the United Kingdom and the United States , though what it describes is not unique to any one country. Often the purpose of switching is to secure a more favorable interest rate from a different lender.

Ethiopian Airlines | Kenya Airways | Tap Portugal UK