Can I Get a Second Mortgage?
There are many situations why you may require a second mortgage, the most common listed below. We can help with all these situations. Whether you qualify for a second mortgage will depend on your individual circumstances and what it is exactly you are looking to do. Contact us to book your free consultation and discuss your options.
- Do you require a second mortgage to raise money on your existing home?
- Are you looking to rent out your existing home and purchase a new one?
- Are you looking to help your children get onto the property ladder?
- Would you like a second mortgage to purchase a buy to let?
Are you looking to raise money on your existing home?
If you have equity in your current home, there are two main ways you may be able to raise funds. You may be eligible for a secured loan; a secured loan is where the lender will secure the borrowing against an asset (usually your home). Or you may be eligible for a further advance; a further advance with your current lender, let’s you take on more borrowing from your existing mortgage.
For both options you are putting forward your home as a guarantee that you will repay the money borrowed on time and in full.
It is always best to talk to a Mortgage Advisor in Leeds like us. We can help you with your options and work with you to find the best possible deal.
Are you looking to rent out your existing home and purchase a new one?
If you are looking to move to a new house but would like to keep your existing property with a view to let it out, then we may be able to help. This is known as a ‘Let to Buy Transaction’ where you will move your existing home on to a buy-to-let mortgage and your ongoing new home purchase will be a residential mortgage. We can help you every step of the way with this type of transaction.
Are you looking at second mortgage for a buy-to-let?
If you are looking to purchase a buy-to-let, whether you are a first-time landlord or looking to extend your portfolio. Our team will always be happy to help, click the link below to read more.
Buy to Let Mortgage Broker Leeds
Are you named on an existing mortgage and want to buy a new home?
This is a situation that we come across quite frequently, usually due to divorce or separation. If you are named on another mortgage and would like to purchase a new property to live in, book your free consultation today to discuss your options.
Whatever your reason is behind looking to obtain a second mortgage, being an expert mortgage broker in Leeds, we can search 1000s of mortgage deals on your behalf and recommend the most suitable product for your individual circumstances.
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