How do I release equity for a deposit on a property to refurb?

Posted on 2 June 2013 by Pete


How do I release equity for a deposit on a property to refurb?

I want to release some equity in my own home for a deposit on a property to refurb. Would an off-set mortgage be the best way to go about this?

Pete,

If you haven't found a property yet, then yes an Offset mortgage could be worth looking at. If you've already found one then we might look at alternatives. Offset mortgages are very popular and more cost effective, where the funds are going to remain in the offset savings account for a period of time and only drawn down slowly.

As offset rates are generally slightly higher, it would be worth talking to one of our consultants who can run through the pro's and con's of using Offset against normal residential rates, and then recommend the best option for you.

If you'd like to do so, then please let me know and I'll arrange a convenient time for you to speak with one of them.

Regards,

Simon

simon.collins@johncharcol.co.uk

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