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Switching/Remortgage Options

  • 26-02-2017 10:24pm
    #1
    Cork2017
    Registered Users Posts: 8 ✭


    I purchased an old house a couple of years ago and it badly needs to be upgraded like double glazed windows etc. My mortgage is with the council (private). Current balance on mortgage is 138k and house valued at close to 200k. Can I switch my mortgage and get funds to upgrade house. I'm looking for 40k?


Comments

  • #2
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    Yes once you qualify for the mortgage on income, affordability etc. and that you have a clean credit rating. Lots of lenders giving 2k or 2% of the loan amount back when you switch and rates approx. 3% depending on loan to value.
    Cork2017 wrote: »
    I purchased an old house a couple of years ago and it badly needs to be upgraded like double glazed windows etc. My mortgage is with the council (private). Current balance on mortgage is 138k and house valued at close to 200k. Can I switch my mortgage and get funds to upgrade house. I'm looking for 40k?


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