Hi,
I'm thinking of purchasing an investment property and was hoping to release equity in my current home which has a very small outstanding mortgage. I had assumed that this option would allow me to avoid legal bills but I will still need a solicitor for signing of contracts. So, do I shop around for a RIP mortgae as this will then allow me to benifit from tax relief on a new mortgage. However with a RIP mortgage I will still need to finance the shortfall, maybe I could use equity release for this purpose. Whats my best approach ?? Confused !
I'm thinking of purchasing an investment property and was hoping to release equity in my current home which has a very small outstanding mortgage. I had assumed that this option would allow me to avoid legal bills but I will still need a solicitor for signing of contracts. So, do I shop around for a RIP mortgae as this will then allow me to benifit from tax relief on a new mortgage. However with a RIP mortgage I will still need to finance the shortfall, maybe I could use equity release for this purpose. Whats my best approach ?? Confused !