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Re-mortgage to provide funds to buy another house?
amcluesent
Posts: 9,425 Forumite
I've overpaid my mortgage so am mortgage free at the moment. House is worth about £100,000.
There's about 6 years left to run on the 25 year mortgage, and Nationwide have kept the deeds so I have a 'live' account with them, but am not making any payments (maybe £1/yr for holding the deeds)
I want to get about £50,000 to top-up my savings to buy another house in a cash deal.
What's going to be my best option to raise money on my current property?
There's about 6 years left to run on the 25 year mortgage, and Nationwide have kept the deeds so I have a 'live' account with them, but am not making any payments (maybe £1/yr for holding the deeds)
I want to get about £50,000 to top-up my savings to buy another house in a cash deal.
What's going to be my best option to raise money on my current property?
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