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borrow against mortgage?
helo all..im looking to take out a loan for 15k over 5 yrs and thanks to this site ihave found that moneyback bank appears to be the best bet at a typical rate of 5.6%.i seem to recall however that its possible to borrow against the equity in your home at the same rate as your mortgage..any advice any one??? many thanks graham:beer:
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Comments
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Just phone your mortgage provider and ask to discuss options with them.Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
Depends on the mortgage provider and what you may want is a 'further advance'
However, be careful about fees and rates - often it is not cheaper.
the likelyhood of getting the moneybackbank loan at 5.6% is slim too, unless you take their grossly overpriced payment protection insurance out.
Remember too that if you extend your mortgage your home is at risk. Whereas with an unsecured loan your home cannot be taken away if you lose your job or fall ill etc.
Good luck.
R.Smile
, it makes people wonder what you have been up to.0
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