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Remortgage to buy abroad
CreditDreams
Posts: 1 Newbie
Do UK mortgage companies allow you to borrow more on your mortgage to buy property abroad?
As in borrowed money put into your account to buy whatever you want abroad?
Currently with Nationwide.
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Comments
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Lenders wont do this, no.0
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yes they will. Done 3 of them this year for people to buy holiday homes abroad.0
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What, can I have £150,000 to put in my current account when I decide to buy a property abroad....what are they securing the money on if there is no asset?0
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The clue is in the title. Remortgage releasing equity to buy abroad security is mortgage on current property1
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doable if you have sufficient equity in your home here. Also much easier to have the mortgage in the same currency as your pay. It all depends whether you have sufficient equity in your home and whether your income can justify the higher mortgage.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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