Why Equity Matters

The amount of equity in the property is a relevant factor when considering a remortgage.

Equity in your home is the difference between what is owed on a property and the appraised value of a property. Aside from periods of increases in property values, the best way to increase equity quickly is to make higher than normal payments on that property.

The more equity in your property, the more alternatives a new lender or the same lender has for a remortgage. It usually will help you qualify for a lower interest rate.

Aside from having more options available on a remortgage, building equity also has an advantage when the homeowner needs some extra cash. An equity release can be very useful and be built into the terms of the remortgage.

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