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Right to Buy Mortgage
price_beater
Posts: 3 Newbie
Hi all,
We are currently looking for a right to buy mortgage and have read the mortgage threads and Martin's recommendations and have also contacted L&C and discussed our requirements but they didn't seem to know to much about my type of enquiry.
I am looking for further borrowings to do home improvements over and above our discount.
Does anybody have any experience of doing this?, if so which mortgage lenders allow this please?
many thanks
We are currently looking for a right to buy mortgage and have read the mortgage threads and Martin's recommendations and have also contacted L&C and discussed our requirements but they didn't seem to know to much about my type of enquiry.
I am looking for further borrowings to do home improvements over and above our discount.
Does anybody have any experience of doing this?, if so which mortgage lenders allow this please?
many thanks
0
Comments
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A couple of lenders will allow you to lend 10% more than is needed to complete the purchase from memory providing it is used for home improvements but options are limited.
Try speaking to a real broker rather than a call centre, you will probably get a little bit further.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
not many lenders allow borrowing above what the house will be bought at due to risk.
Spending x on renovations does not mean an increase by X in the house.
L+C are a fee free broker and therefore you will get what you pay for.
Wish you luck"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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