We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!
Equity release
Options

Newheight13
Posts: 237 Forumite

Hello,
I have a BTL property with TMW, 127k interest only mortgage - property worth 200k and rental income is £1300. How much equity can I release please?
I have a BTL property with TMW, 127k interest only mortgage - property worth 200k and rental income is £1300. How much equity can I release please?
0
Comments
-
How old are you? Are you the sole owner?0
-
45 and joint ownership with wife 380
-
You can release £70k by selling, but you have no chance of obtaining ER because you are to young and it is not your home.0
-
I mean by using advanced lending.
Thanks0 -
So you want to remortgage, to borrow more? You aren't looking for equity release which is a specific product under the later life lending heading?
Assuming the former, each lender will calculate affordability differently. They will use;-
your tax rate
stress levels (ie rent must be eg 145% of monthly mortgage cost assuming a rate of eg 6%pa)
the product (ie you can borrow more on a five year fix than a two year fix)
the product fee (a product with a higher product fee will have a lower rate).
Your question is difficult to answer without more information, so you may find it more productive to discuss your requirements with a broker who can get you the amount you require at the best terms.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards