We need another bedroom. What's the best way to get it?
Posted on 19 December 2012 by Clive
I currently reside in north London in 2bed property. We are looking to stay in the area and gain another bedroom. The property is in my name and my partner has her own BTL. My remaining mortgage is £222k against a property value of £325k. I feel that the best option may to be start again with a new lender in joint names. and then when BTL is sold move to an off set mortgage. With the value gained from th BTL sale.
My concern is that we will have a large LTV % and i'll be giving up my one time portment at a very good rate.
How can you advise?
Many many thanks.
Subject to knowing a little more about yours and your partners personal situations, there may well be a number of alternatives that may include you not having to give up your current rates. If you'd like to discuss your enquiry on more detail, then please let me know and I'll arrange for one of our consultants to contact you.
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