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Remortgage to raise capital and improve terms.

My house was recently valued at 150,000 by a local agent.I am not tied to a deal and I am paying 5.99%. Outstanding balance with my sub prime lender is 113,000.I want to borrow 120.000.Is it realistic to expect to achieve this and which is the best avenue to explore? Cheers.

Asked on Jan 11 2010, Home Finance in Bishop Auckland | Report content

Answers (1)

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  • Yes! Assuming I am understanding your question correctly, you would be looking to remortgage 80% of your properties value (assuming your valuation was accurate). Obviously there are many remortgage deals and terms which run along side them, anyone with 20% equity or deposit should be getting some of the better deals too!, Your best move now would be to talk to an independent mortgage adviser who has access to the whole of mortgage market, that way they will source you the best deal for you and your circumstance. If you would like me to have an independent adviser call you free of charge without obligation email me your contact number to richard@andrewsnape.com or phone me on 0161 485 2244. Thanks

    Answered on Jan 12 2010, Report content

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