People choose to remortgage for a variety of reasons:

• The existing lender won’t allow a further advance at a competitive rate
• To achieve a reduction in monthly costs
• To obtain a more flexible product
• To raise capital for second property purchase
• To consolidate other personal loans and credit commitments usually being charged at much higher rates. This is also called debt consolidation remortgage
• To stay in the home you enjoy. You may need funds to purchase a former equity share in a property. This is called transfer of equity remortgage