Remortgage, not on electoral role

Nanda_devi

Would appreciate some advise from anyone that can advise.I live in India but due to ill health I find I am in the UK for about six more months until I return to my house. I'm 62 years old have a £200,000 house with an outstanding mortgage of £9,000 I have never defaulted on my mortgage and have a long standing tenent in my propertyI'm fast running out of money and can't access my Indian bank account so I want to top up my mortgage by 5,000 but rules have changed and it appears as i,m not on the electrol role this is not possible any feed back from you intelectual people out there would appreciate it thanks.

Nanda_devi

Hi DG no as a none resident of UK i;m not eligabe to vote and Droopsnout I don.t have a mortgage with the bank only my current account my mortgagae is with Birmingham Midshire. Stupid to think of all this equity in my house and not beeing able to get it and yes I thought about equity release but after reading Martins views he said he cant find any good points for it. Maybe its time to sell up Ah !!! then i'm hit with capital gains as well as taking money below the market value at the moment.I'll work it out i;m sure thanks everyone nice to know there someone out there on my side just want to get back to my garden,mountains and peace.

Edinburghlass_2

I've copied this post from a thread in the Silver Savers board in the hope that someone over here may have some advise for the OP, thanks.

Conrad

There are possibilities with small private lenders but rates can be high as too can fees. I suspect it could be cheaper to sell rather than pay something like £5k in fees and interest on a 2 year loan.

Nanda_devi

Conrad I only want £5000 top up on a mortgage of less than £9000/ I have just under £1000 a month coming in in rent and pension there must be a way to approach B M for that. Whats the possibilites/??????????????????????

boxer691

You have no chance and particularly if you are with Birmingham Midshires. They send all of thier mortgage applications to the National Hunters and based on the information that you have provided the Hunters would deem you as unsafe