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Mortgage on property I own
Loopylillyloop
Posts: 1 Newbie
Five years ago I was lucky enough to inherit some money, but at the time I wasn’t working on a permanent contract and couldn’t get a mortgage. I was able to borrow £60000 from a family member. I’m now in a secure job and in a position to repay.
The property is now worth about £200000.
What sort of mortgage do I need to apply for. It will be my first mortgage but I already own it.
The property is now worth about £200000.
What sort of mortgage do I need to apply for. It will be my first mortgage but I already own it.
Any advice how to proceed?
0
Comments
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Maybe one to find a local broker & explain to them just what you are looking for.Life in the slow lane2
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Remortgage of an unencumbered property.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.2
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Or possibly encumbered if the family lender got a charge registered.1
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In which case, it's just a remortgage.user1977 said:Or possibly encumbered if the family lender got a charge registered.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.0
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