Although most
equity release mortgages are made for homeowners over the age of 60, younger homeowners under 55 are not completely left out. Remortgages are a special kind of equity release mortgage available to those under 55. A remortgage takes any outstanding mortgages you may have and moves it to another lender who will then offer a better deal. A Remortgage can be used to free up money, reconsolidate debts, or even to just get the home owner a better mortgage deal. Remortgages are best for those who still have mortgages, however, so ask a banking professional to make sure a remortgage is right for you.