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English definition of “remortgage”

remortgage

verb [I or T] uk   /ˌriːˈmɔː.ɡɪdʒ/ us    /-ˈmɔːr-/
to arrange a second mortgage (= an agreement with a bank or similar organization in which you borrow money to buy property) or increase the first mortgage, especially in order to get more money: Robin decided to remortgage his house to pay off his debts.Mortgages and real estateRenting, hiring and hire purchase in general Renting property
remortgage
noun [C] uk   /ˈriː.mɔː.ɡɪdʒ/ us    /-mɔːr-/
The building society will arrange a remortgage for a fee of £100.Mortgages and real estateRenting, hiring and hire purchase in general Renting property
(Definition of remortgage from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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