0 to change the conditions of a mortgage (= agreement by which you borrow money to buy property), usually by increasing the amount you borrow: --
1 a mortgage (= an agreement by which you borrow money to buy property) that has different conditions to a previous one, usually by being for a larger amount: --
2 to replace a mortgage that you already have with a new mortgage, for example one with lower interest rates: --
3 a financial arrangement in which someone replaces a mortgage that they already have with a new mortgage, for example one with lower interest rates: --
Is he aware that if they remortgage they lose out on tax relief on that part which involves the home improvements scheme?
Of course, for many people remortgage is impossible.
If they are elderly or retired, building societies will not look at the possibility of a remortgage.
Several thousand retired people have mounting debts and cannot pay them off by using interest payments or by remortgaging.
Some people remortgage their property and get a cheaper deal.
I understand that they bought their property in 1987 and remortgaged it in 1989 to finance an expansion of their business.
The problem concerns those people who, in the 1980s, were sold home income plans—very often by companies or independent financial advisers—and who remortgaged a house.
That is—the option of remortgaging his home to pay for health care.
