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Remortgaged a Mortgage Free Home
DollyTheSheep
Posts: 115 Forumite
We paid our mortgage off in 2017, so are now mortgage free on our home, which is worth £200k.
I have looked at various "remortgage" options and they all seem to have required sections for "when does/did your existing mortgage offer end" and "how much left to pay on the mortgage". I know things like equity release exist (something we don't wish to use), but is it possible to raise cash on a mortgage free home using a remortgage financial product?
I have looked at various "remortgage" options and they all seem to have required sections for "when does/did your existing mortgage offer end" and "how much left to pay on the mortgage". I know things like equity release exist (something we don't wish to use), but is it possible to raise cash on a mortgage free home using a remortgage financial product?
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Comments
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Hi,Raising cash on a mortgage free home does sound risky to me.I understand you want to help your son, but if you are having to get a loan to help towards his deposit, I am not sure that's a good idea.By all means, help him if you can, but without having to take out a loan.d_k0
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I would suggest posting this on the mortgage board as this is the mortgage free board, good luck 🙂MFW 67 - Finally mortgage free! 💙😁0
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