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Mortgage or loan?

Sad74
Sad74 Posts: 1 Newbie
in Mortgages & endowments
We paid off our mortgage a few years ago, but would now like to make some home improvements. Can we get mortgage on a property we already own (£25k over 20 years ideally), or would it have to be a loan? We both work and are in our forties. Thanks in advance.

Comments

  • MovingForwards
    MovingForwards Posts: 17,149 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    You can mortgage your own property, but why would you want to do it over 25 years? Why not 10? Saves on interest payments.
    Mortgage started 2020, aiming to clear 31/12/2029.
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