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Remortgaging 2 properties.
King1988
Posts: 4 Newbie
I have 2 properties that are both up for remortgaging, I am wondering is it possible to remortgage my residential one and release some extra cash and also my buy to let one to a repayment as it is on an interest only at the minute. If I can do this and the resulting cash from my residential can I then wait say 6 months and use that money to purchase another property? Remortgaging that to a buy to let?
I have £37000 left on my current residential and its valued at £70000, so if I was to borrow around £20K on top of what I owe to boost current deposit.
Any advice would be much appreciated.
I have £37000 left on my current residential and its valued at £70000, so if I was to borrow around £20K on top of what I owe to boost current deposit.
Any advice would be much appreciated.
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