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Remortgage on a property with key worker loan (2nd charge)
joAnn
Posts: 82 Forumite
Similar question asked earlier, can I remortgage and use the funds as a deposit to buy a bigger property? Family has expanded. Difference is, I have a key worker loan on my flat, which is a second charge. Mortgage remaining is approx £75k, 12 years. Second charge is 1/3 of sale price. Approx £200k equity in the place, after mortgage and loan would be paid off.
Hope that makes sense?
Hope that makes sense?
Thank you
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