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Re-mortgaging, info/advice welcome!
micmaqburialbground
Posts: 1 Newbie
Hi,
I thought I'd come to this forum to get some advice from some of the knowledgeable posters on here.
background
I am 65 and about to retire, I've paid my mortgage off completely so own my house which is valued at around 700,000. The only income I will have coming in is through my wife's job which she will be leaving next summer.
plans
What I was thinking of doing was re-mortgaging my house to free up some capital, investing this in a second property somewhere and using the rent from that property to pay off the mortgaging payments whilst also giving me some money to live on,
question!
Is this even possible? what are the logistics of this etc? are there any companies which would do this for me?
Many thanks in advance!
I thought I'd come to this forum to get some advice from some of the knowledgeable posters on here.
background
I am 65 and about to retire, I've paid my mortgage off completely so own my house which is valued at around 700,000. The only income I will have coming in is through my wife's job which she will be leaving next summer.
plans
What I was thinking of doing was re-mortgaging my house to free up some capital, investing this in a second property somewhere and using the rent from that property to pay off the mortgaging payments whilst also giving me some money to live on,
question!
Is this even possible? what are the logistics of this etc? are there any companies which would do this for me?
Many thanks in advance!
0
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