Unlocking Equity with Remortgaging: Understanding Lump Sum Payments
When remortgaging a property, many homeowners wonder if they receive a lump sum. This process often involves refinancing an existing mortgage to improve terms or access equity. A lump sum is possible if you choose to borrow extra funds by increasing the mortgage size. This guide provides essential insights into the mechanics, benefits, and risks of taking a lump sum from a remortgage, enabling informed financial decisions.