buy to let , equity share , further advance

themaverick999

hi all

newbie I'm afraid

don't think this has been covered before

is there any lender that will do a buy to let mortgage with equity share (not local authority/goverment , is builder private scheme) and with a further advance to release some equity?

my mortgage is 75% ownership

no rent to pay on 25%

7 years before 25% needs to be paid back

need as much as possible for equity release / further advance

property value is 117k

outstanding 75% is about 84k

thanks all

kingstreet

You don't appear to have any equity to release.

If the property value is £117k and your outstanding mortgage is £84k, you appear to own about £3,750 (of 75%) of your home?

For future readers of this thread, to remortgage with an equity loan/second charge in place you need;-

- a lender willing to lend to you

- the second charge holder willing to grant you a deed of postponement.

It's worth checking out the latter, before you even think about embarking on looking for the former...