Can I Remortgage a Property I own

Is it possible to mortgage a property I own again?

May I remortgage to collect money for real estate redevelopment and set up my own company? Can I ask an appraiser if I can remortgage to fund real estate redevelopment and set up my own company? F: I have a pure interest rate mortgages and am owed 213,000.00 with an own capital of 100,000.00 pounds.

£70,000.00 for property developing and setting up a remortgage company.

Under the assumption that you have a pure interest rate mortgages for 213,000 on your principal place of abode which is currently estimated at 313,000 pounds, i.e. with an own capital of 100,000 pounds, then financing alternatives may be available to you. However, you should keep in mind that if you are setting up a new company that will be your primary occupation, then the creditors will demand that you have been operating that company for at least a year and that you will be providing SA302 for the first year before taking the earnings into consideration to service mortgages repaid.

We can assume that the actual earnings will be used for the new business as they increase - for us to fully comprehend your situation this would need to be further reviewed with one of our skilled and supervised advisors. So if you only want to remortgage to another lending institution then interest may not be available, depending on your other fixed assets. However, if you do not want to remortgage to another lending institution then interest may not be available.

In this case, if you wish to hold your current mortgages only on an interest rate base, we might consider finding the extra funding needed to set up a second fee line. If you are looking for a personalized representation of the most important facts on 020 7519 4900, please ask one of our advisors. Please be aware that this information does not contain all the particulars you need to select a mortgag.

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