Can I remortgage to buy a new property?

Can I remortgage to buy another property?

What is a remortgage?

Remortgaging is where you switch your existing mortgage to a new deal, either with your existing lender or a different provider.

Can I remortgage to buy a new property?

In short, yes you can remortgage to buy a new property! Remortgaging is a cost-effective way to raise funds to buy a new property.

What people tend to find is that when they’re paying their mortgage off over a long period of time, and they’ve been there for let’s say 10-20 years, the house prices have likely increased and the homeowners are left with equity that they can then invest into new property!

If you’ve found a new house and the affordability stacks up that you can own both, you could remortgage your current property AND find a new one so that you’re keeping both assets.

How do I go about remortgaging to buy a new property?

You could reach out to a mortgage broker like ourselves so that we can explore your options and make sure you get the best deal possible. In the meantime, for more on remortgages, explore our website or subscribe to our YouTube for tonnes more remortgage tips and advice.

Disclaimer: As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.

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