Remortgaging vs Equity Release

Which Option Is Best for Accessing Money From Your Home?

If you're a homeowner looking to unlock cash tied up in your property, you’ve likely come across two popular options: remortgaging and equity release.

But how do they work? Which one suits your situation? And what should you watch out for?

Here’s a clear and simple guide to help you decide.

What Does It Mean to Remortgage?

Remortgaging means switching your current mortgage to a new deal either with your existing lender or a new one. You can do this to:

• Get a better interest rate
• Change the mortgage term
• Or importantly borrow more money against your home’s value (known as capital raising)

💡 Example: If your home is worth £300,000 and you owe £150,000 on your mortgage, you may be able to increase the loan to £200,000 and release £50,000 cash (subject to lender criteria).

What Is Equity Release?

Equity release allows homeowners aged 55 or over to access some of the wealth tied up in their property without monthly repayments. The most common type is a lifetime mortgage, where interest rolls up and is repaid when you die or go into long-term care.

You can use it for:

• Boosting retirement income
• Paying for home improvements
• Gifting money to family
• Clearing other debts

Key Differences

Which Option Might Be Right for You?

✅ Remortgage if you:

• Are still earning income and can pass affordability checks
• Want to keep building property equity
• Prefer not to affect your estate or inheritance

✅ Equity release if you:

• Don’t want to move home or downsize
• Are over 55 and want access to funds without monthly repayments
• Are retired or have a lower income

Find a Mortgage

What does a mortgage finder do?

Our free Mortgage Finder tool helps you compare a wide range of deals based on your personal circumstances, including your budget, deposit and property goals. It’s quick, easy and won’t affect your credit score.

How to use a mortgage finder?

1️⃣ Select your purpose (choose from first time buyer, purchase or remortgage)

2️⃣ Choose the mortgage type (residential or buy-to-let) 

3️⃣ Enter the property value, deposit and mortgage term 

4️⃣ Click Search to see a tailored list of available deals

Try it out!

Need Help Deciding?

This isn’t a one-size-fits-all decision it depends on your age, goals, income, and long-term plans.

At Windsor Hill Mortgages, we specialise in both remortgaging and equity release advice. We’ll help you weigh the pros and cons, understand the costs involved, and find the most suitable option for your future.

📞 Call us on 01225 962456
📧 Email us at enquiries@windsorhillmortgages.co.uk