What does remortgaging mean in the Uk?
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If it’s similar to a re-fi in the US, it’s taking out a mortgage for the amount that you currently owe on your house. You use the new mortgage to pay off the original one. You typically do this because the interest rates are lower or you want lower payments by taking your remaining balance and spreading it out over 30 years (instead of the time remaining in your current mortgage).
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