^ You only put the rent up by about £10-£15 per year, depending on the remortgage.

The Govt *do* tax you on cash you take out of the house as equity, which does stink because yes, it is a loan - I bought at the right time, so my house pretty much doubled in 2 years - my intent was to remortagage and draw about £35,000 out of the equity, however I was told by a financial advisor this would hit me for about 40% tax (!) so I never bothered with it in the end.