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Showing results for tags 'cash purchase and mortgage'.
My mother owns her own home outright which is worth about 110K. We are looking to invest in BTL together and have 60K capital between us; how do we go about releasing the equity in my mother's home so we can use the capital to cash-purchase a BTL property? Any advice greatly appreciated!
Hello, Could someone help me with the following query: I’m considering the strategy of purchasing a property with cash and then mortgaging the property in 9-12 months’ time. I think that the cash purchase has enabled me to get a BMV property, so I’m hoping to be able to re mortgage at the higher value. Is this likely to be possible or will the lender go off what I originally paid for the property? Is there any point in me getting the property valued before I buy in the hope that this will act as evidence to the lender of its true value for when it comes to mortgaging? Thanks in