Help to Buy and additional Borrowing

slideby

Hi all

Would really appreciate some help if possible.

We are approaching the end of our 5 year Fix with H2B. As I understand it, we cannot take any additional borrowing in the mortgage until we have paid H2B, as such I am assessing options.

If I remortgage and pay H2B, am I then able to apply for additional borrowing once H2B are paid off, and if so, how long would I need to wait to be able to do this.

I have been told this can happen, but was concerned that a bank is unlikely to lend extra money quickly after providing the mortgage.

Any extra lending would not take the LTV over 80%.

Any advice would be great.

Thanks

amnblog

If you have sufficient equity, and you are clearing the whole of the H2B loan, you can borrow extra on the first transaction.