Many people who enjoy the benefit of having a lot of equity locked in their properties and many of these people are in a position to take advantage of equity release using a remortgage. A homeowner can exercise the option of equity release irrespective of the mortgage type. Whether the property owner has a buy to let mortgage or a residential mortgage you can still release equity from a property with a mortgage.

The key requirement of releasing equity with a mortgage is obviously that the homeowner must have sufficient equity locked into their property for it to be released through a remortgage. As a general rule of thumb, the smaller the amount of mortgage that is outstanding, the more equity a person can release from the property.
There are no limitations on what the cash released from equity release scheme can be used for. For instance, there are many who remortgage their properties to release equity for a home improvement project. There are those who simply want to release the cash from the property for personal use whether it's enjoying a few more holidays abroad or a person wants to buy a new car from remortgaging property.

Choosing the right remortgage to release equity from a property is crucial. It must be remembered that that there are literally hundreds of mortgage products available on the market. Choosing the right mortgage can be a bit of a minefield so having a chat with a mortgage industry expert is always a good starting point. So if you're keen to release some extra cash from your property then pick up the phone and have a chat with a qualified mortgage broker to evaluate your options.