According to reports, more and more people up and down the UK are remortgaging in order to ease other debts.
Website MoneyExtra.com have reported that despite recent interest rate rises, Brits are choosing to borrow against their homes instead of continuing to shell out for high repayments for debts such as credit cards and personal loans.
Although this tactic will relieve financial strain in the short term, as spokesperson for MoneyExtra commented: "This does mean they could be paying far more interest in the long run."