It has £35k worth of equity in it, any suggestions would be great
2007-06-10 12:33:32 · 5 answers · asked by Paula O 2 in Business & Finance ➔ Renting & Real Estate
Update, the property is currently rented. I am looking to get the bulk of the equity out of it. Secured loans are rarely given on buy to let property. Any other suggestions.
2007-06-10 13:08:26 · update #1
home equity loan
2007-06-10 12:46:41 · answer #1 · answered by divinemadness 4 · 0⤊ 0⤋
If there is equity in it your present lender would most certainly consider using this as a deposit on another property if you wanted to purchase something else. If you are meaning have the cash in your hand well I'm afraid that wouldn't even be considered without you selling the property.
2007-06-10 20:48:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
you're not serious? the only other way to get money from property that isn't rent or a loan is to set fire to it and make an insurance claim.
2007-06-10 12:56:32 · answer #3 · answered by paywithnaivety 2 · 0⤊ 0⤋
errrr...rent it out? isn't that what buy to let is about???
any other loan will be worse than remortgaging it because it would still use the house as collateral and therefore you would risk losing it if you defaulted on payment...
2007-06-10 12:42:29 · answer #4 · answered by pooterpet 3 · 0⤊ 0⤋
Sell it
Remortgage it
Let it out
Pick one
2007-06-10 13:07:49 · answer #5 · answered by Bostonian In MO 7 · 0⤊ 0⤋