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Reasons accepted by lenders for releasing capital?

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Edtough
Edtough Posts: 144 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
edited 13 October 2015 at 2:23PM in Mortgages & endowments
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Comments

  • nidO
    nidO Posts: 847 Forumite
    Giving any reason other than the real one is fraud.

    Further advances to buy a new property are usually valid, but it depends entirely on your mortgage provider.
  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    What is the reason? Lenders have different rules. Rather than lie why not find the most suitable lender.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, 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.
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    Why risk your current property by borrowing more money secured against it to buy an 'investment property' ?
    "You were only supposed to blow the bl**dy doors off!!"
  • amnblog
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    GMS is right here. Across the market you can find a lender to capital raise on most legal purposes. Buying another property is among the most common allowed.


    Don't attempt to say what you think will work as Lenders have a number of ways to avoid being 'conned' when it comes to reasons for capital raising.
    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.
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