Re-Mortgages

Borrowing more money against your property and rolling it in to your existing mortgage may be a way to free up some of the equity in your house to spend now. The main advantage is that you will be paying the same rate as your mortgage which tends to be a lower rate of interest than for loans, credit cards, credit finance etc.

 

However, the disadvantage is that you will probably pay the loan over the same period as your mortgage so that overall you will pay more. Your house is also at risk if you stop making the payments.