Mortgage question

[Hilts]

My parents own 3 properties, the one they live in has no mortgage, the other two are rentals.

One of them the value is circa £250K with a mortgage of £108K.

They're retired but have a combined income of around £40K...pensions and rental.

If they wanted to re-mortgage the house at £250K to £133K can this be done? Is it fairly straightforward?

[Sarnie]

Hilts said:

My parents own 3 properties, the one they live in has no mortgage, the other two are rentals.

One of them the value is circa £250K with a mortgage of £108K.

They're retired but have a combined income of around £40K...pensions and rental.

If they wanted to re-mortgage the house at £250K to £133K can this be done? Is it fairly straightforward?

Yes it can be done, how complex it is would be dependent on how complex the rest of the circumstances are.........

[Hilts]

Sarnie said:

Yes it can be done, how complex it is would be dependent on how complex the rest of the circumstances are.........

Thanks Sarnie, when you say the rest of the circumstances what do you mean?

[Sarnie]

Hilts said:

Thanks Sarnie, when you say the rest of the circumstances what do you mean?

Their circumstances as a whole...........age, credit score, income, credit commitments, reason for the additional lending, rental figures received, property type, mortgage required.............for starters

[Hilts]

Sarnie said:

Their circumstances as a whole...........age, credit score, income, credit commitments, reason for the additional lending, rental figures received, property type, mortgage required.............for starters

Ah got you. Is this something you'd like to take on?

[Sarnie]

Hilts said:

Ah got you. Is this something you'd like to take on?

Drop me a mail, happy to chat!

[Hilts]

Sarnie said:

Drop me a mail, happy to chat!

Cool, PM on the way shortly.