Getting a loan on my mortgage

S_G_Parkinson

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?

Wutang_2

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.

19lottie82

S_G_Parkinson wrote: »

Can I loan the £10,000 back

why would you want to lend them money?

Apples2

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_G

27col

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.

bigadaj

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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