We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Chrissy
chrisdunit_2
Posts: 5 Forumite
I own a property motgage free value £130000,
I want to raise £100000 to enable me to buy another property value £125000
Could I remortgage to raise this amount and if so what would my repayments be
I tried to get a normal mortgage for the 100000 from Alliance and Leicester but the max they would lend me is £78000
I want to raise £100000 to enable me to buy another property value £125000
Could I remortgage to raise this amount and if so what would my repayments be
I tried to get a normal mortgage for the 100000 from Alliance and Leicester but the max they would lend me is £78000
0
Comments
-
It all depends on a number of things. how much you earn, which lender you approach, and any other outstanding debts you have together with your credit status and employment status. best bet is to go and see a local whole of market mortgage broker who will take the finer details from you and recommend a suitable solution.
HTH
LI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
You should be able to do this - incoem and current financial commitments permitting.
In terms of getting the highest loan amount, it all about getting the highest multiples, or most favourable affordability calculator wo work for you.
Again, I would suggest having a word with a whole of market mortgage adviser who should be able to point you in the right direction.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards