Capital Raising

Dreaming of that kitchen extension, the additional bedroom or maybe a full renovation, re-mortgaging can often be a solution for you to raise the funds. For home improvements, lenders may require evidenced works such as work schedules or anticipated quotes for the necessary work due to be carried out. 

You may have children that you want to help onto the property ladder. Re-mortgaging to then gift the funds to form or increase a deposit for children is growing ever more common. You may have a large amount of equity in your property, or no mortgage at all, meaning the ability to raise capital is much easier than you may anticipate. 

You will generally need a 25% deposit for a buy to let investment property. Re-mortgaging a residential property to raise investment capital is becoming more commonplace amongst landlords. 

Speak to James Wong Mortgages today to discuss through a bespoke investment strategy. 

A build up of credit card balances or personal loans can often save you money in the long run by consolidating them into one monthly mortgage payment. You must have enough equity within the property, as well as the income to support the additional borrowing.                                                                             Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage 

A further advance is when you borrow additional funds with the same lender, on top of your existing borrowing. This will often result in you essentially having two mortgage payments with two separate mortgage accounts. A further advance is different to a re-mortgage as the lender does not change and quite often, no early repayment charges are payable.