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Looking to take Equity out of a house but want to learn more.
londonsw6
Posts: 29 Forumite
Our family has a house in Fulham, the house is worth about 2.2 million pounds,we have a morgage of about 250k pounds. We just Renovated it and rented it out for 1200 pounds a week. What we want to do is take cash out and buy other properties, 1 bedroom flats to maximize out rental yield. I just want to know whats the best way to do this, we're overseas landlords. I have my british passport we all lived in the house until 1990, then moved to california, any advice would be greatly appriciated.
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Comments
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One for a good broker who deals in BTL mortgages.
No income in this country Not living or working in the UK will make this complex.
But nearly anything is possible with Money0 -
As stated, very difficult case - particularly if all owners are now non-UK residency.
The intention presumably is to purchase further UK/London property?
Lenders wont be geared up to take this type of case, but we may get a bespoke deal put together.
Consult a good broker.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 -
Would it be hard to take money out of the house and buy property in the united states.0
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