Type of Mortgage

cassy136

Hi All

Justlooking for some advice on what product I am looking for as I am gettingconflicting views from different parties.

Icurrently own my home outright.

I amlooking to mortgage the property to repay some debts and for houseimprovements.

Does thisthen make me?

[*]a first time buyer
[*]looking for a remortgage
[*]or capital raising mortgage

I am so veryconfused as to what it is I require by conflicting information from differentsources.

Any helpgreatly appreciated

rachelonna

Capital raising mortgage sounds right but I would suggest contacting a couple of mortgage brokers for help.

This said, making unsecured debts, e.g. loans/credit cards and making it secured on the roof over your head can be risky, so be careful

Thrugelmir

As you are seeking money to consolidate debt you may need to look at the secondary secured loan companies rather than the mainstream mortgage companies.

A mortgage is now used as another term for a loan. A mortgage is actually the legal charge placed on the property to secure the debt.

kingstreet

It's a remortgage of an unencumbered property.