Question
Can I remortgage my house to the max with ease?
My house is worth approx £125,000 I have approx £40,000 left to pay on the mortgage. But can I remortgage to the full 125k giving me 85k cash purely based on the equity left in the house or will I still have to prove my income etc and produce bank statements and wage slips? I'm thinking of buying another property outright with it.
2 years ago - 1 answers
Best Answer
Chosen by Asker
You need to talk to the bank currently holding your mortgage. Tell them what you want to do. They will explain your options, and the expenses involved, etc. You may get a better rate on a new mortgage than borrowing your equity. My bank is offering lower new mortgage rates than home equity loan rates. Call them and ask. Could check out their website first.
by ohio gal
2 years ago
Asker's Rating: 