I don't see how anyone can answer your question with so little information.
You have a new mortgage, you say your maxed out, and you want to borrow against your original home.. Is this mortgage free??
Doesn't sound good.
Ideally we'd have sold and used profit to do this home up...
Fortunately we could keep our original home which we have rented out. It's on a tracker mortgage. Rent is covering mortgage with a surplus.
hi looking for advice here.
We bought a 2nd home (now out primary home) last year, a doer upper 70s bungalow and absolutely maxed ourselves out buying it. It's a variable rate mortgage.
Fortunately we could keep our original home which we have rented out. It's on a tracker mortgage. Rent is covering mortgage with a surplus.
So question is: Can I borrow money against rented property in order to do up our primary 70s home?
Thanks
Income values mortgages would help clarify.
We bought a 2nd home (now out primary home) last year, a doer upper 70s bungalow and absolutely maxed ourselves out buying it. It's a variable rate mortgage.
Thanks
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