advice on trading up

D

deiseboys

Registered User
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34
How would one go about financing a new property value 510000
I have a current mortgage of 41000 to run for 12 years and equity release of 9000 euro to run for 2 years value of hse at present possible sale for 38000. Also have investment property value of 300000 no mortgage.
 
remortgage the investment at,say,75% - 225k.

That way ypou only require 285k for the new property - LTV of c. 55% (EXPENSES ASIDE...WHICH MAY HAVE TO COME OUT OF THE 226K DEPENDING ON YOUR CIRCUMSTNACE)

All in all i'd imagine the bank would be more than happy to give it to you.
 
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