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Buy to let remortgage equity
MalikTarik
Posts: 2 Newbie
I am about getting a buy to let remortgage and have decided to take some equity from the property. the lender has asked me what I want to use the money for...if I said i wanted to use it in getting a car would they refuse the remortgage?
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Comments
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I doubt it. The main reason for them refusing you would be if there is not sufficient profit margin for their criteria.
I would not see any harm in you saying that you are capital raising for personal use.I 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 -
Will depend on lender - Recently seen a client who was declined a further advance from a major lender - he tried to borrow against his B2L for home improvements to his main residence ( actually in that case IMHO not a great idea anyway)
Daft ?Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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