Can we raise money against our £1million property to buy other properties?

Posted on 13 March 2014 by Steve


Can we raise money against our £1million property to buy other properties?

We relocated some years ago from London and have a property currently valued around the £1million region with a mortgage of £28K.  I currently do some part time work, so my declared income appears quite small.  Can we raise money purely against our property to buy other properties to invest in?

Steve,

Potentially yes you can. The amount you can borrow on your main residence will depend on affordability and although each lender has a slightly different way of doing this, as a general rule of thumb you can estimate that to be around 4 times your income. However, you can also leverage against the investment property/ies and spread the risk.

I think it would be worth exploring your options in a bit more detail, and you can do this by contacting one of our consultants on 0344 346 3672 and they'll be able to give you an idea of how we can help.

Regards,

Alistair

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