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Extra capital raised on re-mortgage to help buy your first house to let!

  • Writer: Aga - Mortgage Broker
    Aga - Mortgage Broker
  • Jul 21, 2021
  • 1 min read

Re-mortgage can be an opportunity to review your strategy and to see what can be done to start building your investment property portfolio .

Our success story this week is of clients who bought their first home with very little deposit 2 years ago and, on re-mortgage, we have now managed to get a deal that will let them borrow extra £30k to invest in their first property to let! This is a great outcome after only 2 years when they first bought a residential house.


Property values have increased over the last year and, despite all Covid related distractions, the market is very busy. It may be a good thing if you want to borrow extra capital on your home.

Every time your property grows in value, you gain more and more equity (ownership) which can mean benefits like:

  • an option to borrow more,

  • option to renegotiate your interest, or

  • option to reduce the term of the mortgage.

Remember, every case is different and it has to be assessed on its own merit but when you are planning your re-mortgage, you should not just assume that switching product with the same lender is the only option available for you. Have a chat with a mortgage adviser to discuss what can be done.



 
 
 

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GRN Financial Services Limited,
15 Bath Street,
Leek,
ST13 6JQ 

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REMEMBER! YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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GRN Financial Services Ltd is a company registered in England and Wales. Registered number: 11200120. Registered office: 15 Bath Street, Leek, Staffordshire, ST13 6JQ. GRN Financial Services Limited is an appointed representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority. GRN Financial Services Ltd accepts no responsibility for any loss or damage resulting directly or indirectly from the use of the content on this website. The content of this website is aimed at UK based customers only.

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