This means changing your mortgage to raise capital
or make savings on monthly repayments. If the value of your house has
increased since you bought it, you can 'unlock' capital by refinancing.
This can be done with your existing lender, or by moving your mortgage
to another lender.
Pros:
Can be a cheap way to access cash
You could save money on monthly repayments
Cons:
Costs may be incurred - such as fees or penalties
Look out for deals that seem too good to be true
- they may be appealing in the short term, but tie you in to punitive
deals after the initial 'honey pot' period
