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remortgage vs mortgage

Both 'remortgage' and 'mortgage' are correct, but they are used in different contexts. 'Mortgage' refers to the initial loan taken out to buy a property, while 'remortgage' refers to the process of switching your existing mortgage to a new deal or lender.

Last updated: March 30, 2024 • 969 views

remortgage

The term 'remortgage' is correct and commonly used in the context of switching your existing mortgage to a new deal or lender.

Use 'remortgage' when you are talking about the process of changing your existing mortgage to a new one, often to get a better deal or lower interest rate.

Examples:

I'm thinking of remortgaging my house to take advantage of lower interest rates.
She decided to remortgage her property to release some equity.
It might be a good time to remortgage with the current low interest rates.

Show examples from the web [+]

I had to remortgage our house to send her to Passages.
I had to remortgage our house to send her to Passages.
Remortgage this place, I don't care.
We'll remortgage the house.
This is a type of remortgage scheme which promised to retired people the opportunity of remortgaging their property and obtaining an income for which they would have no loss for the rest of their lives.
We're already remortgaged up to the hilt as it is.
We remortgaged, took out a loan, lost money hand over fist every month.
Three kids in private school, he just remortgaged his house,
We have a mountain of... Thierry had now remortgaged his business and sold off whatever he could to invest in a huge studio, screen-printing equipment, and a full-time staff capable of producing MBW pieces on a commercial scale.
She'd found out Majid had remortgaged the house to pay his gambling debts and put a stop to it.
Farm's remortgaged, worthless.
I remortgaged my house...

Alternatives:

refinance
switch mortgages
change mortgage deal
get a new mortgage deal
take out a new mortgage

mortgage

The term 'mortgage' is correct and commonly used to refer to the initial loan taken out to buy a property.

Use 'mortgage' when referring to the loan taken out to buy a property, usually secured against the property itself.

Examples:

They took out a mortgage to buy their first home.
The bank approved their mortgage application.
She's paying off her mortgage over 30 years.

Show examples from the web [+]

Plus bonuses, a low-interest mortgage.
The bank called again about our mortgage.
The mortgage... exactly 150,000 rupees.
I got a Westwood mortgage, alimony, child support.
Hard work and a crippling mortgage.
He even had me get mortgage insurance from his girlfriend.
I could pay my mortgage again.
This mortgage is eating me alive.
No major debts, no mortgage.
Three kids, two cats, and one mortgage.
I took out a second mortgage on my mobile home.
Bank accounts, Inland Revenue, utility bills, mortgage.
We just took out a third mortgage to pay the bills.
And I got your mortgage until you find a job.
He didn't take out a second mortgage.
Sullivan's father, Michael, signed the original mortgage in November of 1962.
My husband could get you a 10% mortgage.
So, after dinner I cut his hair, and he readjusted my mortgage.
We had to double mortgage the house to pay for it.
They took out a second mortgage six months ago.

Alternatives:

home loan
property loan
housing loan
real estate loan
property mortgage

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