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remortgage
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bronzedg
Posts: 68 Forumite
if you had paid in full for your mortgage & a year later you wanted to remortgage for 80% would that be easy to do ?
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Comments
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You can re-mortgage an unencumbered property.
How easy it is, will depend on the overall scenario i.e. income, credit history, actual figures you are looking at etc.
Some lenders may offer free legal fees/valuation as part of the deal.I am a Mortgage AdviserYou 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.0 -
would you say it would be easier to remortgage than mortgage from the start ?0
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It will be the same.
Increasing your borrowing at any time will be subject to full underwriting, so the process will be the same if you re-mortgage from a nil balance or a £20k balanceI am a Mortgage AdviserYou 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.0 -
if you had paid in full for your mortgage & a year later you wanted to remortgage for 80% would that be easy to do ?
What are you looking to raise the money for?I am a Mortgage AdviserYou 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.0
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