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Re-mortgage

Jessiepig
Posts: 211 Forumite

Hi can anyone tell me which is better please. We currently are mortgage free but wish to release some money . Is it better to do equity release or can we remortgage?
Thank you for any advice
Thank you for any advice
£2 saver club, over £200 now:
1p a day increase saving. Paid up to middle April
:j
1p a day increase saving. Paid up to middle April
:j
0
Comments
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You can put a normal mortgage on a property without a mortgage, subject to criteria and income.
You can have an equity release mortgage on a property, subject to meeting criteria include age, spouse etc.
With no information to go on, it's impossible to answer your vague question.
How old are you, your partner (if you have one)?
What's your income annual income and how is that funded (salary, benefits, pension, shares etc)?
What's the purpose of wanting the money (that may / may not fit with lending criteria of either normal or equity release)?
Mortgage started 2020, aiming to clear 31/12/2029.1
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