Can I remortgage to pay for school fees?
Answered on 16 December 2017 by Nick Morrey
I own a mortgage free property approx value £300k I would like to release some equity(£50k) to help pay for my sons school fees. Would I be able to remortgage?
Equity Release For School Fees
Releasing equity from your home to pay for school fees is a possible option. Depending on your current financial situation, there shouldn't be any reason why you would be refused.
There are a few options when it comes to releasing equity, one of those we can help with would be remortgaging. It isn't suitable for everyone.
Remortgaging to Release Equity
Remortgaging is in essence switching from one mortgage lender to another but staying in the same property. Higher income or a rise in your property's value means you could remortgage and raise more money to help pay for school fees.
For more information, you can view our guide to remortgaging.
If you'd like to discuss your enquiry in more detail, please call 03304 332 927 and we can arrange for you to speak to one of our consultants.
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.