Thanks good feedback. I was nervous in relation to the purpose and the detail of how the loan will be reduced.
In practice what will have to happen is that I will transfer 200k to solicitor and the bank will transfer 100k. The solicitor will then pay the 200k to buy the house and a 100k to...
Hi,
I would would like input if anyone has experience of this issue. The figure/situation below is simplified but issue the same.
Situation:
I have 100k at 6% rate on a buy to let property loan. The 6% interest is hurting me. I am buying a new house as a principal private residence for 200k...