Remortgaging rental property

T

Teeley

Registered User
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Is this possible to remortgage a rental property in order to raise a deposit for another house purchase? I'm pretty sure that this was possible in the previous boom but not sure if it still is. Looking for a quick answer here rather than yet approaching my bank. Thanks.
 
It's possible with Pepper and ICS mortgages (edit: but not with your bank - none of the mainstream banks offer this). There are various nuances and intricacies (e.g. property locations, rental cover ratio, which lender the house purchase loan is with, etc.) but the short answer is yes.

Best regards,
Dave Curry (broker)
https://www.linkedin.com/in/davecurryirl
 
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