Second Mortgage Loan to value

A second mortgage loan of value

Is it actually specific for me and not for second mortgages in general? Max LTV for a second mortgage? Hi all, generally I currently own a (residential mortgage) apartment, but we have substantially outgrown the apartment and are looking for somewhere a little larger somewhere. We are not willing to offer the apartment for sale, as it is in a top rented area. Thus our idea is to get an approval from our mortgage bank so that we can let out the apartment (mortgage bank said no problem), and get a second mortgage for a larger home.

however, after we have sat 3 hrs with a (slightly unsuspecting) mortgage advisor of a real estate broker, the best LTV we could find is only 75% And 75% is nowhere near enough good enough for us, we need about 90% because we need the currency circulation for home enhancements. So some queries... 1. why is the L good enough for us?

2. are there any lenders posted to have good LTV for second mortgages?3. one option I can think of is to turn my current home mortgage into a buy-to-let mortgage so that my second mortgage doesn't count as a second mortgage.

However, I am told by the mortgage consultant that buy-to-let mortgages cannot be in re-mortgaged - they only take new buyers. When this is an exact breakdown of your mortgage counselor, it may sound as if he or she is either bound to a creditor or does not know what they are speaking about, or both.

They can buy into a REMORTAGE to leave mortgage at up to 85% and even maybe 90% even though this is contingent on adequate rental revenue. For example, Halifax, which would offer 90% and more competitively priced exposure to a single LLC, which would make their product less appealing.

Of course, this all depends on your own level of earnings and creditworthiness.

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