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    releasing equity to get mortgage
    • #1
    • 11th Apr 13, 1:31 PM
    releasing equity to get mortgage 11th Apr 13 at 1:31 PM

    i new to the forum but need some advise.

    my partner who has poor credit has recently been left in a will a 4 bed property which has a lease that runs out in 2036 and is paid outright until then.

    We beieve the rental value of the property is around £1200 pcm. W e would like to buy a house and live mortgage free. Question is would we beable to release some of the equity in the property to get a deposit for a mortgage which we could then use the rental income on the leasehold to pay the mortgage?

    Also my credit is average as i had a settled ccj 4 years ago and have had a few late payments over the years.
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