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Remortgage to go travelling- possible?
Travelling_Man
Posts: 11 Forumite
Hi, I am currently unemployed. I am getting fed up with the search for work and I am bored with the UK anyway. I am now considering going travelling for eighteen months or so, which I have done before.
I have no money for this, obviously a bit of a problem, but I own a house outright worth about 150k, which would rent very easily for about £650 pcm, again I have done this before.
Upon my return maybe the job market would be better, if not I would return abroad, to teach English in which I have qualifications, and continue to let the house. But I do fancy a bit of a big trip first.
I don't want to sell the house however.
Are there lenders that would give me a buy to let remortgage for 25k over five years roughly, based on only the rental income outlined above?
Or would it be possible to arrange a secured loan on this property for about 18k, just based on rental income?
Many thanks for any advice.
I have no money for this, obviously a bit of a problem, but I own a house outright worth about 150k, which would rent very easily for about £650 pcm, again I have done this before.
Upon my return maybe the job market would be better, if not I would return abroad, to teach English in which I have qualifications, and continue to let the house. But I do fancy a bit of a big trip first.
I don't want to sell the house however.
Are there lenders that would give me a buy to let remortgage for 25k over five years roughly, based on only the rental income outlined above?
Or would it be possible to arrange a secured loan on this property for about 18k, just based on rental income?
Many thanks for any advice.
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