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Refinancing for extension or buy to let


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Hello property hub, many thanks for all the great advice on here. Such a wealth of knowledge, I really appreciate it. 

 

Just a quick question, we are looking to refinance on our current residential property and have been told we can take out £40k in equity. 

 

We are living in Dulwich in SE London at the moment, with a 2 bed first floor split level flat. 

 

Would it be best to invest the £40k in a buy to let in the north or use the planing permission we have on our current property to add and third bedroom and bathroom to increase the value of our residential property which can then be used for a buy to let when we sell or refinance in 2 years following?

 

Many thanks for all the help. 

 

Jez

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  • 1 month later...

Hi Jez, 

Hope you're well and great question. 

 

Before I provide an answer/ opinion on what I think would be the best choice/ option, it would be great to know what you're looking to achieve by investing the £40k in either a Buy to Let or improving your current property? Whats your end goal?

 

George

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