If your property has increased in value or you’ve paid down a good portion of your mortgage, you may be able to access additional borrowing — either through your existing lender or by remortgaging to a new one.
People commonly raise funds for home improvements, weddings, holidays, or debt consolidation. Borrowing through your mortgage often results in lower monthly payments compared with a personal loan because the term is longer. However, spreading borrowing over a longer period usually means paying more interest overall.