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Getting a loan on my mortgage
S_G_Parkinson
Posts: 1 Newbie
in Loans
we bought our house for £115,000 in 2007 and since then it has decreased in value to £100,000 and we have paid £10,000 off it. Can I loan the £10,000 back off the mortgage even though our home value has decreased?
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Comments
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S_G_Parkinson wrote: »we bought our house for £115,000 in 2007 and since then it has decreased in value to £100,000 and we have paid £10,000 off it. Can I loan the £10,000 back off the mortgage even though our home value has decreased?
no you certainly can not.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
S_G_Parkinson wrote: »Can I loan the £10,000 back
why would you want to lend them money?0 -
You want ALL of your Mortgage payments given back to you on a house which is worth less than it was when purchased?
Don't get your hopes up S_G0 -
Is this yet another weird newbie. What a completely preposterous idea. At what stage do you actually intend to start paying back your mortgage. By the way it's borrow £10,000, not loan £10,000.I can afford anything that I want.
Just so long as I don't want much.0 -
To be fair no one has asked what deposit you put down. If you put a large deposit then you could in theory remortgage, however you wouldn't be able to raise above 90%of the house value and probably less. Therefore if your outstanding mortgage is less than ninety grand, but probably ideally closer to eighty grand then you could probably raise more cash,
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