We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Question about further advance
piotrdamek
Posts: 1 Newbie
Hello everyoneSo...I purchased my house for 2017 for 105.000.I did some work to it and in 2018 it was revalued at 137.000My 2 year fixed ends in August and my current bank revalues the house at 183.000. This is if I decided to stick with them for another two years and if they did not send any valuer to the house (checked with my mortgage provider twice whether that amount is correct and they confirmed). In this scenario I would have 35% equity in my house. But... I'm looking to release some equity and purchase a BTL.If I were to accept this offer, can I contact the bank in 6 months and apply for further advance to release some of my equity? (Lower it from 35% to 20-25%).
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards