Remortgaging and offsetting

meanbean

Hi, has anyone ever remortgaged to raise funds for school fees and then held them in an offset account against the mortgage, only drawing down on them as and when required?

Is this possible? Thanks

kingstreet

I don't see why not.

As long as the purpose of the capital raising is acceptable to the lender, of course.

Senior_Paper_Monitor

We've done a couple of those - one fairly recently so certainly do-able -but lenders not queuing up for the privilege I seem to recall (although age also came into play on the most recent one).