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!
Mortgage help - no cash deposit?
woodmill
Posts: 52 Forumite
We are considering coming back to the UK but once we have sorted out everything and made the move our cash balance will be quite small.
We own some investment properties in Scotland and these are valued at around 320,000. We have 1 mortgage totalling 50,000 pounds.
Would a bank lend without a cash deposit but using the value of the investment property instead?
For instance, if we see a house we like at 150,000 would the bank give us 150,000 but take the investment property as a guarantee?
THanks for any help.
We own some investment properties in Scotland and these are valued at around 320,000. We have 1 mortgage totalling 50,000 pounds.
Would a bank lend without a cash deposit but using the value of the investment property instead?
For instance, if we see a house we like at 150,000 would the bank give us 150,000 but take the investment property as a guarantee?
THanks for any help.
0
Comments
-
No, you would need the 'actual' money - i.e from remortgaging one of the properties.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards