Remortgaging is the standard way to do so. A remortgage is a secured loan on your house that is for a purpose other than purchasing it in the first place. In almost every sense, it is similar to your original mortgage, with a regular monthly repayment and competitive interest rate.
Can I remortgage my house if I still have an outstanding mortgage?Yes. There are two options in this instance. One is to take out a full remortgage that swaps with your original mortgage (paying it off and replacing it), the second is to have a second charge remortgage in addition to the main mortgage – often simply called a property secured loan.
In order to remortgage your house, you must have positive equity in the property.