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Is it possible to......

n69

n69 Posts: 1 Newbie

4 June 2007 at 2:14PM in Mortgages & endowments

Hi, is it possible to get remortgage on my house when i currently don't have a mortgage. Want to release some of the equity in my house.

thanks

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Comments

maninthestreet Posts: 16,127 Forumite

4 June 2007 at 4:53PM

Well, you can't remortage a house with no current mortage on it, but you can apply for a mortage on it, which is probably what you meant.

"You were only supposed to blow the bl**dy doors off!!"
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herbiesjp Posts: 8,499 Forumite

4 June 2007 at 5:52PM

Some lenders will class it as a re-mortgage of an unencumbered property and offer free legal fees and valuation as well

HTH

I am a Mortgage Adviser

You 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.

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JoeK_3 Posts: 1,374 Forumite

4 June 2007 at 6:16PM

n69 wrote: »

Hi, is it possible to get remortgage on my house when i currently don't have a mortgage. Want to release some of the equity in my house.

thanks

Of course you can! Subject to your income, you can go up to 125% of your property value.

JoeK

I am an Independent Financial Adviser.
Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.
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