Secured loan/or Mortgage

Bovril5

I live in a shared ownership property. I purchased 50% of the property outright. The purchase value was £90,000, three years ago.
The other 50% of the property is owned by the council.
I am unsure if I am able to take out a secured loan on the half of the property I own.

I have applied to purchase the other half and am currently waiting for the valuation. I believe I am entitled to 30% reduction in the cost to buy under my right to buy agreement with council.

My enquiry is two fold.

I am unsure if I am able to take out a secured loan on the half of the property I own. I want to make some home improvements on the property so should I wait to purchase the property later. I believe I will receive further discounts (10%) each year I reside here until a maximum of 77% is achieved.
This would be my preferred option if I can get secured loan against my 50% of property.

The second option is to purchase the remaining 50% andI also take out loan if I can afford it

Can anyone advise me please

kingstreet

It's a remortgage of an unencumbered property.

You can't normally do a secured loan on an unencumbered property as that would be a first charge and secured loan lenders normally work only on a second charge basis.