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Mortgage/Loan for Second House
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daytonamick
Posts: 8 Forumite
I'd be grateful for a little help ... My current house is worth around £180k and has no outstanding mortgage. I'd like to buy a second house at auction to renovate and either sell or rent.
Maximum spend would be £100k and I could raise a deposit of £15k. Please could someone advise the best method of financing the second house.
I have been in full time employment for 5 years and earn enough to give the taxman 40%. Thanks Mick
Maximum spend would be £100k and I could raise a deposit of £15k. Please could someone advise the best method of financing the second house.
I have been in full time employment for 5 years and earn enough to give the taxman 40%. Thanks Mick
0
Comments
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Quickest and easiest way would be a remortgage of your unencumbered property.
Some lenders will even offer free legal fees and free valuations.
If you are not sure on the process get in contact with a good whole of market adviser.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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