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Equity release to buy another property

Can I release the equity from my house to buy another property? How much would it cost me for repayments? My house worth is £100,000, I owe £19,000 want to release £70,000

Asked on Feb 7 2010, Using Zoopla in Stalybridge | Report content

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  • Most lenders will lend you up to 75% of the value of your house ..possibliy 80%. You want 90% which I think will be a bit difficult. Go to your lender that you owe you current mortgage with. Thbey will tell you if it is possible and how much

    Answered on Feb 7 2010, Report content
  • You are not restricted to going to your current lender when looking to refinance. Obviously your current lender can be the easiest to do business with as they know you. If you would like to talk to a whole of market mortgage broker, who could perhaps let you know for sure which are the best deals out there and if any would suit you, drop me an email and I can get them to call you. (free of charge no obligation)

    Answered on Feb 8 2010, Report content

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