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Can i mortgage a property to raise money to build another?
tingly
Posts: 236 Forumite
Hi there
I have a property that i rent out which has no mortgage
I am about to embark on a selfbuild for myself- i have about 60per cent of the money but wondered if i could raise the money on the house i rent ? Or would i need a self build mortgage?
Thanks
I have a property that i rent out which has no mortgage
I am about to embark on a selfbuild for myself- i have about 60per cent of the money but wondered if i could raise the money on the house i rent ? Or would i need a self build mortgage?
Thanks
0
Comments
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You should be able to raise money on your rental but you will have limited lending options.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Probably best taking out a home equity loan.0
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Thanks for the help0
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