If you are thinking about a re-mortgage to raise money for home improvements or another purpose then a further advance may be more suitable to your requirements. A further advance is where your current lender leaves your existing mortgage and remaining term in place and then provides you with a top up mortgage of the amount required. This will run alongside your existing scheme without the need to go to an alternative lender. You can spread your payment over a long term and your interest rate should be lower than a personal loan.