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Releasing money from house
SarahWood87
Posts: 1 Newbie
Good evening, just wondered if anyone could offer some advice
We own our property outright, valued at £100,000
We are wanting to extend our property, make some other improvements and mop up a few debts using the value in the house to do so.
Is this as simple as remortgaging the house or is it called something else. Looking to borrow approx £65,000
We own our property outright, valued at £100,000
We are wanting to extend our property, make some other improvements and mop up a few debts using the value in the house to do so.
Is this as simple as remortgaging the house or is it called something else. Looking to borrow approx £65,000
0
Comments
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It's not as simple as just remortgaging.
Not all lenders would consider it a remortgage.
All lenders would want to know where the money is to be spent and will have limits on how much and what purpose they will lend forI 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.0
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