Re-mortgaing after 4 months

mane1034

Hi,

Quick question in relation to re-mortaging.

I recently purchased a property with variable rate mortgage with no exit fee?

I could not find any term restricting to remortgage within 6 months.

I have urgent need of some cash and I was thinking if I remortgage to a new lender, will they re-value my property as If the valued has been increased in last 4 months then can I can get some percent from the equity?

Thanks

whitewing

You may be able to extend your existing mortgage with your existing lender after 6 months; it would be worth speaking to them first as I think it would be the most straightforward.

holly_hobby

Its not you leaving the lender thats restricted to 6 mths, its any application for a further advance with them, or a remortgage application being accepted by a new lender, where they can choose to impose this min term.

You'll need to wait for the 6 mths to expire, or use a broker to try and find one doesn't have such a restriction - assuming LTV and status suffices.

Hope this helps

Holly

amnblog

is the property your home or a buy to let?