Remortgage or 2nd mortgage

R

raglan

Registered User
Messages
88
Hi,

Halfway through our mortgage on family home. I just have a query about a house I have partially inherited. Just weighing up options really. If I wanted to buy other parties out but need funds to do so, how do people do this? By remortgaging 1st property to get adequate funds? We have a tracker mortgage on our home so don’t want to jeopardise this. I am clueless.
 
Mainstream banks don't do remortgages on the family home anymore. You might get it from a smaller lender but at a much bigger rate.

You might be able to get a mortgage on the new property to buy it out.

You should give the figures.
Value of new house
Your share of it
How much cash you have
Your total income
The balance on your existing mortgage.

Of course, it's another question entirely whether it's a good idea to buy the new house.
 
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