Could somebody please advise me how I can unlock the equity on a home which I own in England? Is this possible at all or should this house be sold? Ideally, I would like to keep this house.
Thank you in advance.u2jam,
I don’t know specifics about English mortgage loans, but I suggest that one would use the same method as Australia:
go to your lender and ask for the mortgage loan to be increased. You would need to show that you can service the increased loan. You should then have a sum which you can use for investing…
Have you looked at one of the British property investing weebsites?
Terry.Terence McMahon
HomeWin
FinanceI needed to do this and the only way was to remortgage the house. My existing building society wouldn’t touch me as I no longer earnt pounds (having moved to Austrlaia) , so I had to go to another lender and becuase I was now living in Australia I had to get an ex-pat loan. Then all I had to do was prove an income. However, I still managed to get a good discounted rate for 2 years.
Look at http://www.themoneycentre.net/ or just do a search for buy to let mortgages.
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