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Equity for home improvements when moving?
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jennielouises
Posts: 19 Forumite
I now know from my other post that we can use our equity in our flat sale for fees for the new house. However, I have a further question.
We were given a DIP based on deposit for £64000 which meant we could afford home at £285,000 with mortgage of £221,000. Now buying home for £283,000, are we able to keep 2k of the equity back for home improvements and still get the full £221k mortgage?
We were given a DIP based on deposit for £64000 which meant we could afford home at £285,000 with mortgage of £221,000. Now buying home for £283,000, are we able to keep 2k of the equity back for home improvements and still get the full £221k mortgage?
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Comments
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Yes should be able to.0
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It doesn’t change the LTV bracket so you should be fine0
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Thanks everyone ������0
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