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BTL remortgage
Gam2015
Posts: 168 Forumite
I currently have a rental property and owe 33k on my BTL mortgage it is worth around 75k. Could i remortgage it and just leave 25% init to release equity? Thanks.
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Comments
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In theory yes, but the actual lender choice will have to depend on the details - for example rental income, location (some lenders don't lend in Scotland), your earned income, whether you own your resi home, the property itself (e.g. whether it's an ex-council flat with deck access), what the equity release is for... just to name a few aspects that lenders consider.I am a Mortgage BrokerYou 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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