Can I Borrow Money Against My House To Buy Another Property? / Remortgage To Buy Second House

If you have a decent amount of equity in your house or you own your property outright, then you may consider releasing some of this equity using a remortgage. This money released from your current property can be used towards the purchase a second home or another property such as a rental property as an investment or second source of income.

Remortgaging your current property will often give you a better rate than a buy to let mortgage, and using this equity can give you a good deposit to purchase that second property.

First Choice Finance is a mortgage broker with over 30 years experience providing excellent mortgage advice helping people with one, two, three and even larger property portfolio`s. Enquire online and get a no obligation mortgage quote and advice and we can help you find the best deal for your circumstances.

Can I Release Equity From My Home To Purchase A Buy To Let Property?

Yes if you have enough equity in your home, then you may be able to release equity from your property to purchase a buy to let property. Many people consider a buy to let property to be a sound long term investment, choosing the right property is of vital importance. There are a number of key factors which should influence your choice of property/properties.

The principal factor being location. In order to maximise your chances of letting your property you must ideally chose somewhere that is: close to all amenities including transport links. Try and establish what the demand is and for what type of property i.e. are there large companies nearby or moving to the area, is the property within easy reach of a university campus etc etc.

Property type is also important, is there a stronger demand for apartments for young professionals or for family homes.

The condition of the property is also fundamental for two main reasons:

1) If you are raising a mortgage, the surveyor acting for your lender must be able to state that the property is in letable condition, if not then typically they wont advance any money until the surveyor can revisit the property and confirm that it is.

2) in order to achieve the best rent in the fastest time the property must be in good condition, most tenants these days expect modern kitchens and bathrooms.

It is imperative that you research properly before buying an investment property, as a property that remains empty will cost you money, not make you money. We would strongly recommend that you contact a number of letting agents in the area of your search to establish demand.

If you are looking to source a mortgage on your current property, then you have come to the right place! We have helped thousands of clients throughout the UK find the most suitable mortgage to fit their circumstances.

We recognise that sometimes finding and arranging a mortgage can be a very stressful experience. Our advisors are trained to a very high standard in order to remove the hassle and to provide you with simple impartial advice, without the jargon!

Simply complete our short Enquiry Form and we will provide you with FREE NO OBLIGATION Mortgage Quotations from our top lenders.

With over a 30 years of expertise, First Choice Finance can assist with all of your mortgage needs. Our Managers will provide you with complete personalized service -- guaranteed. They will assess your individual needs, analyse the variety of mortgage loan options for you, explain each plan, and help you make the best decision based on your situation. We`ll be with you every step of your application and closing process.

Our goal is to ensure a timely and efficient remortgage, while developing a relationship that will last a lifetime.

First Choice Finance is a trusted company offering mortgages and loans!

We are well known and established mortgage broker with an excellent reputation and outstanding service has earned us customers who are second and third time or more. Our valued customers come from all over the UK!

We offer our customers stability and dependability that is second to none.

First Choice Finance is known throughout the UK as in the top tier of "The Mortgage Specialists". Our staff of highly experienced and professional mortgage advisers working directly with home buyers, estate agents and mortgage lenders, offering you the best mortgage opportunities available from our panel. Our own mortgage advisers and processing team will work with you from time of application to closing. No shuffling from company to company! We are committed to outstanding "personalised service.

First Choice Finance is accredited & directly authorised which backs up our first class reputation and excellent testimonials from previous customers.

Homeowner Secured Loans 9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE) First Choice are tied to certain unsecured lenders.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on immovable property.

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.