I've inherited a property, could I raise a first time buyer mortgage on it?

Posted on 24 September 2013 by Hannah


I've inherited a property, could I raise a first time buyer mortgage on it?

I inherited my fathers house. Ive never had a mortgage. Would I be still eligible to get a first time buyer mortgage to release a lump sum?

Hannah,

Thank you for your enquiry. As you own a property now, you will be deemed a homeowner and the process of raising money of this property will be via a re-mortgage with capital release. That is not necessary a bad thing and potentially our consultants can find you a deal with free valuation and free legals. The mortgage will be assessed on your personal and financial circumstances and the purpose of raising capital will also have to be acceptable.

I would suggest it's worth us speaking together to discuss your particular requirements with one of our consultants. If you'd like to do so, then please let me know and I'll arrange a convenient time for one of them to contact you.

Regards,

Alistair

contact@johncharcol.co.uk

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