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Funding new lease and remortgaging

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Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    No - you can raise the funds, and then pay for the lease extension.

    Was the answer, because you just posted:
    Assuming there is enough Equity, how could this work?

    So it would be a re-mortgage
    I 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.
  • richardw
    richardw Posts: 19,459 Forumite
    Part of the Furniture 10,000 Posts
    herbiesjp wrote: »
    No - you can raise the funds, and then pay for the lease extension.

    Can you re-mortgage based on a new lease even though it isn't actually in place, because you haven't actually paid for it yet?
    Posts are not advice and must not be relied upon.
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    Marriage value, which supposedly influences the future pricing of a lease on a leasehold property, should clearly involve the mortgage lender as it possibly affects the loan to value ratio, to some extent. Could the perceived increase in value of the property just be in the perception of the lease holder?. Discuss at your leisure ?
    J_B.
  • richardw
    richardw Posts: 19,459 Forumite
    Part of the Furniture 10,000 Posts
    Let's assume that the value of the property doesn't decrease with a new lease then.
    Posts are not advice and must not be relied upon.
  • richardw
    richardw Posts: 19,459 Forumite
    Part of the Furniture 10,000 Posts
    Anymore thoughts?
    Posts are not advice and must not be relied upon.
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