Many people use remortgage to release equity from their homes. You are allowed to raise capital for lots of different reasons. As a mortgage broker, we find that the most popular reasons are debt consolidation, home improvements, buying out your ex-partner if you have separated and raising funds to gift to your children, perhaps to get them onto the property ladder themselves.
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Whatever your reason to remortgage, there should be plenty of options out there as long as you have a decent amount of equity in your home and the payments are affordable. Your dedicated mortgage advisor will let you know what options are available to you and your circumstance, working hard to ensure your process goes right. Book your free mortgage appointment today to get in touch with a mortgage broker.
Apply NowWhat is equity?
Equity is the difference between what you owe on your mortgage and what your home is currently worth. If you owe £150,000 on your mortgage and your home is worth £200,000, you have £50,000 in equity.
Why should I remortgage to release equity?
When you release equity, you are releasing a share of your home and turning it into cash. You can use this equity to fund home improvements, pay off unsecured debts, put down a deposit on another house or gift to your children.
How much equity do I own?
To get a rough idea of how much equity you own, you will need to work out how much your house is worth. You can get an estate agent to work this out for you or just look at similar housing prices in the area. Take this total and subtract your remaining mortgage amount from it; this will give you a estimate to how much equity you currently have.
Can I remortgage to release equity to pay off a loan?
Yes, you can if you have enough equity within your house to pay back the loan. Depending on the amount of equity you own, you may not have to take all of the equity out to repay the loan. It is always best to seek professional advice before securing any debts against your home and you may end up paying back more interest overall.
How long does a remortgage take?
The remortgage process can usually take four to eight weeks to complete. Ideally, when you are remortgaging to release equity, you want to plan your remortgage at least 3 months ahead. This is where coming to a mortgage broker can prove beneficial, as we'll make sure you're prepared as you can be and will work hard to help you achieve mortgage success.
We're flexible around your work and family, we'll be there when you need us.
No upfront fees payable, we are paid on results only.
You'll always know who you are dealing with.
Getting a new mortgage or porting an existing mortgage isn’t always easy. We’ll be here to answer all your questions throughout the whole process.
Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.
We shop around for the cheapest deal for you, saving you time and money.
There isn't a situation we haven't come across before, we fully understand your needs.
We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.
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UK Moneyman's recent financial health check was incredibly thorough, well-communicated and professional and had a very positive outcome in terms of excellent income protection cover. They have also sourced two excellent mortgages for me on my...
I have used ukmoneyman's services for two mortgages and they have been absolutely amazing! My case had particular challanges, complexities and some technical misfortunes here and there. However Lyndsey and Leo have always kept me up to date,...
the staff are extremely supportive, friendly and helpful. I highly recommend them.
It was nice talking to moneyman this morning and I managed to book my first appointment on the same day, how amazing is that
We needed a specialised mortgage so using a broker was a no brainer. We didn't know what to expect but UK moneyman made the whole process smooth for us. Communication was amazing. Thankyou to Leo and Kerry.
Could not have been more helpful. Friendly and approachable and worked really hard to get us what we needed. Withdrawn highly recommend and will be using Moneyman in the future.
Brilliant service from the start and throughout!
This team really are fantastic, I carried out a RTB mortgage and they have executed perfectly, thanks again to the whole team. Very professional and fast acting.
Very smooth service
We contacted UK moneyman as our first mortgage advisor didn’t work out. After our first conversation things moved quickly, they were thorough with what information we needed to give them, which meant when it came to applying for the mortgage...
IT WAS LOVELY TALKING TO Helen today She was very professional and friendly and very helpful I am looking forward to her colleague Thomas calling me back at 3:30 as a range from conversation on telephone
Everyone at UK Moneyman was really helpful, polite and efficient throughout the process of getting our mortgage offer. As first-time buyers, the process seemed very overwhelming at the beginning but Charlie talked us through each step at the...
Dale was very good and very prompt thank your for your help dale
I spoke to Leaghne and she was very helpful and very patient and polite in all discussions we did. It was very easy to get through.
Really helpful and friendly team that got us the mortgage we wanted.
The service from Charlie and Chloe was outstanding! Charlie was by our side through all the start of the process and Chloe took over later on and helped with every issue we had to make sure everything ran smoothly. They both went above and beyond...
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Just spoke to Aaron very thorough good lad
Seemed a nice, friendly guy. Seemed to understand and actually interested in our application.
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UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
UK Moneyman Limited is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited registered in England, registered number 6789312 and registered office 10 Consort Court, Hull, HU9 1PU.
