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Switching/Remortgage Options

Cork2017 · 2017-02-26 21:24:22

I purchased an old house a couple of years ago and it badly needs to be upgraded like double glazed windows etc. My mortgage is with the council (private). Current balance on mortgage is 138k and house valued at close to 200k. Can I switch my mortgage and get funds to upgrade house. I'm looking for 40k?

26-02-2017 9:24pm

#1

Cork2017

Registered Users, Registered Users 2 Posts: 8 ✭

Join Date: February 2017

Posts: 5

I purchased an old house a couple of years ago and it badly needs to be upgraded like double glazed windows etc. My mortgage is with the council (private). Current balance on mortgage is 138k and house valued at close to 200k. Can I switch my mortgage and get funds to upgrade house. I'm looking for 40k?

0

Comments

#2 28-02-2017 5:34pm

Trish56

Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭

Join Date: November 2012

Posts: 1244

Yes once you qualify for the mortgage on income, affordability etc. and that you have a clean credit rating. Lots of lenders giving 2k or 2% of the loan amount back when you switch and rates approx. 3% depending on loan to value.

Cork2017 wrote: »

I purchased an old house a couple of years ago and it badly needs to be upgraded like double glazed windows etc. My mortgage is with the council (private). Current balance on mortgage is 138k and house valued at close to 200k. Can I switch my mortgage and get funds to upgrade house. I'm looking for 40k?

0