Remortgage - AKA Refinancing
Quick Financing Advice and Tips
An urgent remortgage, or quick refinance, is usually done by people who want to either consolidate debts or tap the value in their home due to a sudden need for money. For example, unexpected expenses or the need to raise capital for a project may require an urgent remortgage to secure funding.
In adverse situations, urgent remortgages are done to lower the payment on the home, change the interest rate, or extend the term in order to prevent eviction or foreclosure. If you can secure other debts against your home, you may be able to get a remortgage easier, but you should always remember that if you fail to make payments then all secured property can be put at risk.
Notes and Special Information
Special note: Remortgages are much easier to do when the equity in the home is in excess of the old mortgage.