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Help! Trying to remortgage
crunchie123
Posts: 1 Newbie
Hi
I currently have an interest only
Mortgage, my husband is self employed with a profit of 20k, we are trying to remortgage to borrow more for home improvements. We have a mortgage of 167k and our is worth 270 so Ltv of 60%. When I try to see what we can borrow all the lenders calculators show they will only lend 100k - 120k which is less than our current mortgage and we wanted to borrow more! Can anyone help as we do not know what to do next? Thanks
I currently have an interest only
Mortgage, my husband is self employed with a profit of 20k, we are trying to remortgage to borrow more for home improvements. We have a mortgage of 167k and our is worth 270 so Ltv of 60%. When I try to see what we can borrow all the lenders calculators show they will only lend 100k - 120k which is less than our current mortgage and we wanted to borrow more! Can anyone help as we do not know what to do next? Thanks
0
Comments
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It sounds like you would not meet affordability for the mortgage, so borrowing more is not an option.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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