1. to replace an existing mortgage with a new one, typically to obtain better terms or release equity
Usage: British English

1. a new mortgage that replaces an existing one
Usage: British English

Examples

• They decided to remortgage their house to get a lower interest rate.
• The couple remortgaged to raise funds for home improvements.
• We’re considering a remortgage now that rates have dropped.
• The remortgage process took about six weeks to complete.
• Many homeowners remortgage every few years to secure better deals.
• She used the remortgage to consolidate her debts.
• The bank offered attractive terms for their remortgage application.