Remortgage, can I do it?

berniebeyer

Hello,

I have a few questions regarding remortgaging, and I'm looking for some advice, I'm completely new to the subject and was just wondering on a few points.

I have an opportunity to make an investment in something and was wondering if I could free up the said investment from my property.

The investment required is approx £45k.

My property is valued at approx £370k, I have an outstanding mortgage of approx £255k. My mortgage is with Skipton, but the new deal was only taken last year, a 5 year deal, so will undoubtedly have a early repayment fee, unless I port the mortgage with them. Do they offer this service?

Mine and my wifes salary is approx £80k a year, we have some outstanding debts of approx £20k. Could the debts be consolidated into the new mortgage along with the freeing up of capital?

The investment could be set to return approx £100k in about 6 months. Would there be a penalty for paying off such a large lump into the new mortgage?

If it were possible, any idea on repayments over a 30 year term?

I don't really want to waste time with the investment, if the above isnt possible, but would love to make it work if it does.

Thanks in advance

Bernie