remortgage Meaning in the Cambridge English Dictionary Cambridge dictionaries logo
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Meaning of “remortgage” in the English Dictionary

"remortgage" in British English

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remortgageverb [I or T]

uk   /ˌriːˈmɔː.ɡɪdʒ/  us   /ˌriːˈmɔːr.ɡɪdʒ/ UK (US refinance)
to change the terms of a mortgage (= agreement by which you borrow money to buy property), usually by increasing the amount of it, in order to be able to borrow more money: Robin decided to remortgage his house to pay off his debts.
remortgage
noun [C] uk   /ˈriː.mɔː.ɡɪdʒ/  us   /ˈriː.mɔːr.ɡɪdʒ/
The building society will arrange a remortgage for a fee of £100.
(Definition of remortgage from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"remortgage" in Business English

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remortgageverb [I or T]

uk   us   /ˌriːˈmɔːɡɪdʒ/ UK FINANCE, PROPERTY
to replace a mortgage that you already have with a new mortgage, for example one with lower interest rates: Fears that interest rates might increase before the end of the year spurred homeowners to remortgage.remortgage your home/house/property They remortgaged the family home in order to finance the business.

remortgagenoun [C]

uk   us   /ˌriːˈmɔːɡɪdʒ/ UK FINANCE, PROPERTY
a financial arrangement in which someone replaces a mortgage that they already have with a new mortgage, for example one with lower interest rates: 340,000 loans and remortgages were granted to buy-to-let landlords in 2007. Our deal offers free valuation and free legal work on remortgages. remortgage deals/packages/schemes
(Definition of remortgage from the Cambridge Business English Dictionary © Cambridge University Press)
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“remortgage” in British English

“remortgage” in Business English

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