Tricky Mortgage question
Discussion
Quite a complex or should I say interesting scenario so would appreciate any advice I can get.
Currently having an extension built on our house and as soon as finished I am thinking about getting some money out by remortgaging.
I am currently self employed (2 years accounts - 3 years end of September) so that will need to be taken into account.
My questions is suppose are:
How easy is it to get a valuation and re-mortgage from an extension and how long would it take?
How feasible would it be to get it done within 4 weeks of building being completed?
Currently having an extension built on our house and as soon as finished I am thinking about getting some money out by remortgaging.
I am currently self employed (2 years accounts - 3 years end of September) so that will need to be taken into account.
My questions is suppose are:
How easy is it to get a valuation and re-mortgage from an extension and how long would it take?
How feasible would it be to get it done within 4 weeks of building being completed?
Not very complex really, pretty normal in fact. Depending on your current deal you might just want to go for a further advance from your current lender.
How will your application stack up under the new MMR "affordability" rules, 3 yrs accounts is all well and good, but only if they show enough profit, and that profit isn't falling.
How will your application stack up under the new MMR "affordability" rules, 3 yrs accounts is all well and good, but only if they show enough profit, and that profit isn't falling.
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