buying a property abroad

flyer

I need to raise £20k for a deposit on an apartment abroad. My current home is worth £250k and I have £24k outstanding on the mortgage. What's the best way to raise the £20k?

brannyrhino_2

Ring your lender and ask for a deal on the existing mortgage with a top up of £20000. They should snap your hand off.

herbiesjp

Going to yourt current lender should be the easisest and quickest way of getting the mortgage agreed.

However, look at all the costs involved and what rates you will be paying. Try and make sure that you do not end up with two interest rates, amd therefore two end dates for these rates - as if you wanted to re-mortgage or sell, you could find yourself in a position where you would have a penalty on one or both of the schemes.

HTH