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you’re right about the term being longer but you can surely just overpay on the mortgage so it’s paid off in the term you want?
I.e. unless you’re banned from overpaying on your mortgage, then borrowing under that with lower % will still be better as you effectively choose the term over which to repay anyway
Has anyone here remortgaged and released cash for improvements as part of the process?
bought our place last october and have since redecorated upstairs (it was very old/outdated in style) and completely tore out and replaced the bathroom
We'll carry on improving the place within our means but there are other bits of work (knocking down walls, relocating kitchen, etc) that will require a big chunk of cash
When is a good time to remortgage and release cash and will the new bathroom and significant redecoration have added much value to the place?