Best way - Borrowing on existing Mortage ??

bilabonic

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Hi

Got my mortage down to a comfortable level and looking at purchasing a second home for rental/investment.

My current mortage is totally flexible and allows overpayments are allowed which is what i need.

If i goto my borrower and say i want money for another house will there be problems ?

Or should i just say i am building an extension ??

Or should i just ask for a second mortage which i don't really want to do.

Cheers
 
I guess it depends on how much equity you have in your home. But do you want to risk your home against an investment property?
Maybe you're after a 'buy to let' mortgage on a 2nd property. Rates are usually a little higher for them.
 
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