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!

Advice needed - mortgage home - to purchase abroad

rsburstow
rsburstow Posts: 1 Newbie
in Mortgages & endowments
Hi, this is my first post so please bear with me. I own a property outright valued at 275K, our household income is 40K/yr but savings are negligible and we want to buy a holiday home in France. I want to borrow against my property in the UK, amount required 100K, to buy for cash in France. Can I do this by getting a mortgage off a UK lender on my property here? The reason I ask, is all the re-mortgage or secured loan deals I have looked at appear to require you to have an existing mortgage - and I havn't.

Thanks for any replies in anticipation

Comments

  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    why risk the home you live in for the sake of a holiday home?
    "You were only supposed to blow the bl**dy doors off!!"
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.5K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.5K Spending & Discounts
  • 245.5K Work, Benefits & Business
  • 601.4K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture