Remortgaging Your Home

Re-mortgaging your home can offer you the opportunity to raise funds by releasing equity in the property.

Advantages

Your new mortgage will often be at a relatively low APR (typically 5-7%), which will result in lower repayments compared to many other type of car finance, such as hire purchase or personal loans.

Disadvantages

This option can work out more costly in the long run, especially if the repayments are spread over a long period. You will also risk losing your home if you can't keep up the repayments.