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Raising Capital from a Second Home?
fordy2u
Posts: 3 Newbie
I remortgaged my house and bought a second holiday home in the U.K. I now want to invest in a property in a foreign country (Bulgaria) :eek: , yet still want to keep my second home. I am currently looking to rent out my second home on a short or long term let. I have recently been able to add a further loan to my remortgage from my mortgage lender but have a shortfall of around £10k. My mortgage lender won't go any further on grounds of my income so would I be able to raise a mortgage on my second home which is 'mortgage free'? The income from letting my second home should go someway to paying the further loan. :think:
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