Can I remortgage my unencumbered house?

Posted on 16 February 2013 by Neil


Can I remortgage my house with no mortgage currently on it?

Neil,

As long as you meet a lenders standard criteria there's no reason why you shouldn't be able to raise mortgage on your unencumbered property.

There are a few restrictions on what you can raise the funds for, but the majority of lenders are okay as long as it's for "any legal purpose". Naturally the amount you can borrow will depend on your overall financial position, income, credit history, loan to value, etc.. Also although you don't have a mortgage on your home at the moment, many lenders will still offer a free valutaion and either free legal costs, or a small cashback, usually enough to cover using your own solicitor.

As John Charcol is an Independent, Whole of Market mortgage broker, we can choose the best product for your individual circumstances.

If you'd like to have an initial discussion with one of our consultants, then please let me know and I'll arrange a suitable time for one of them to contact you.

Regards,

Alistair

contact@johncharcol.co.uk 

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