If you remortgage with a new lender but increase your borrowing, this is known as capital raising . People capital raise for many reasons; some to improve their own property or even as a way to buy another property.
Another common reason for Capital Raising is for people to consolidate their existing debts. This can make your monthly outgoings lower, but can also increase the amount of interest that you pay by stretching your debt over a longer term. Caution should be applied when considering an option of this type.
Whatever you’re reason for Capital Raising, either call or email via the contact us link and Concept Mortgages can assist you with making the right choice for your circumstances. We would always ensure that you had considered all of the options available, before you make your decision.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.