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Own outright - raising a mortgage
Whit6874
Posts: 2 Newbie
Hello
This is my first ever post so forgive me if I ramble on!!
I will soon own a property outright & need to know how long I have to wait until I can get a mortgage on this property?
Would this be called a remortgage?
Any help would be appreciated
X
This is my first ever post so forgive me if I ramble on!!
I will soon own a property outright & need to know how long I have to wait until I can get a mortgage on this property?
Would this be called a remortgage?
Any help would be appreciated
X
0
Comments
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It's a remortgage of an unencumbered property.
Some lenders will expect you to own the property six months, others won't.
A broker will assist in establishing who to approach and who to avoid.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 -
How are you obtaining the property?
if an inheritance from an estate you should be able mortgage as part of the transfer and avoid any 6 month rules.0 -
My parents are 'giving' me the cash to buy this property then I will repay them when I sell my current house0
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Do you need a mortgage to repay your parents?0
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KS, as ever, is on the ball here.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
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