Are there lenders who will use two houses as collateral?
Posted on 26 October 2014 by Mike
I would like to raise some capital, but my bank will not help. I own two properties, are there any lenders out there that would lend to me with my own houses as collateral?
I'm afraid this isn't a question with an easy straightforward answer. It really depends on what you're looking to raise the capital for, what income you have, are you living in one of the two properties, and renting the other out, and if so which one it would be better to do the mortgage on, etc....?
Without knowing the answer to these and other questions I can't really be anymore specific, than to say, that it may be possible to do what you're looking for. However, whether it's via a Residential, Buy To Let mortgage, or Bridging Loan, will depend on the exact circumstances.
I think it would be worth contacting one of our consultants on 0344 346 3672 and they'll be able to give you a clearer idea of what we may be able to do to assist.
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