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If can you get equity release when you still have a mortgage're borrowing on an interest-only basis, you're likely to be able to borrow less than if you get a deal where you also pay down the loan.
When you refinance your home loan, you pay off your existing mortgage with funds from the new loan, which means you will have a new loan note.
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This means that if you extend your loan too much, you may minimise the benefit that your equity will have on your retirement interest only mortgages halifax rates.
Your Equity Release Calculator Without Personal Details release provider will want to have the first charge on your property and to do so will need to replace you existing mortgage lender.
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