Can I raise more money by increasing my existing mortgage?
Tue, 02 Oct 2007
Yes. In some cases the easiest way to obtain more cash against your building is to seek an increased mortgage from your existing lender.
However lenders differ in their policy on this (for example some do not give such further advances, others will but only after the mortgage has been running for 6 months) so if you think you may need more cash later than you are looking to raise at the outset it is worth checking the lender’s policy and if necessary arranging to borrow more initially.
If this is of interest please contact us to discuss your requirements.
