"House remortgage" is the term that is used for the property that you live in at the moment and the remortgage product that you opt to take out in order to refinance it. The term is often used when individuals only own their own home and no further property at all. As such, the remortgage is not taken out to fund other property ventures or any other major investments. Instead, this type of remortgage is strictly for personal use, such as debt consolidation, home improvements and large purchases, such as a car or a holiday.
You are not limited to only one specific remortgage product with a house remortgage. As with the regular mortgage, there is a whole host of products and options available. You could opt for a fixed rate remortgage, a flexible remortgage, a capped remortgage, a variable remortgage or indeed any of the other various types out there. Although many high street banks do limit their remortgage lending to just a handful of products, many independent and specialist lenders will offer a whole range of them so you can literally find one that fulfils all of your expectations and requirements in the one package.
No matter what kind of house remortgage you choose, you can be safe in the knowledge that your debt is working for you. After all, you have to make the most of your home and should only pay as much as absolutely necessary for it. You will find that many remortgages offer cheaper rates than the original mortgage you signed for in the first place. As such, the amount of money you could potentially save would run into thousands over the term of your mortgage, so make the most of it!