Short Term €10,000 loan - can house be used as equity

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billygruff said:

We have recently paid off our mortgage with EBS.

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Has the EBS's interest in the property already been vacated from the deeds? If not then perhaps you can get them to "revive" the existing mortgage?

Can I used the deeds of our house to get a personal loan?

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I presume that the only way to secure the loan on the property or use it as collateral is to remortgage it and I doubt that you can do that for (from the lender's point of view) as little as €10K but maybe I'm wrong. If you go this route then you may need to factor in additional costs (e.g. legal fees, mortgage protection life assurance premiums etc.). Maybe you can use the deeds as collateral without actually mortgaging it but I would be skeptical. In any case it would only be worth doing this if it meant getting a better rate that normally charged on an unsecured personal loan.

Perhaps a chat with a mortgage broker or two might help? I'm sure that others with more experience/knowledge than me in such matters can advise.