Re-mortgage question

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pint6

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Hello All,

Can we re-mortgage the property from the same lender where we initially got the mortgage from?

Regards,

Pint6
 
In general can't see why not. Obviously whether or not they will allow this depends on their policies and your circumstances. Perhaps if you post more details (e.g. lending institution, amount of mortgage, value of property, age of mortgage, your earnings/savings/debts etc.) people can comment more authoritatively?
 
Is that not just a top up on what you've already borrowed? Most Mortgage Deeds are for what is called "present and future advances" so if your current lenders will lend you more, then the original Mortgage Deed may still be effective save only that it needs to be stamped up ( i.e. Mortgage Deeds for sums over E254. have to be stamped @0.1%) They may equally have other requirements.

You can go to someone else and see if they will lend you sufficient sums to (a) pay off original mortgage and (b) release further equity.

mf
 
If you have only taken out the mortgage recently (looking at your previus posts I am assuming this is the case), I don't think they will allow you to remortgage-unless you have built up substantial equity in the meantime. I don't know if moving to another lender would make much difference at this early stage.

Otherwise, yes, there is no reason why you can't re-mortgage with your original lender.
 
Thanks for your replies. No no, we are not thinking of re-mortgaging at all. This question cropped up when I was going thru an article yesterday. Thanks for the info.

Regards,

Pint6
 
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