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Equity Release on Cash paid property
mrwing
Posts: 59 Forumite
Hi,
I just wanted to ask on behalf of family, if a property was purchased in cash in full, are we able to refinance this at the current value to release equity from the property?
Any equity release is this taxable of exempt?
Regards
I just wanted to ask on behalf of family, if a property was purchased in cash in full, are we able to refinance this at the current value to release equity from the property?
Any equity release is this taxable of exempt?
Regards
0
Comments
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Yes, you just need to get a regular mortgage.0
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The implications of getting a regular mortgage, would the usual interest rate be higher than a standard mortgage as we would be re-financing (ignoring the current crisis that is)0
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It's a remortgage (despite the fact there isn't currently a mortgage) so you're looking at standard remortgage rates.1
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Thanks much appreciated.0
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