Matthew Posted November 28, 2006 Report Share Posted November 28, 2006 Say I have a mortgage with Chelsea, the house value goes up loads, can I get a second mortgage with another lender for say £40K on that same property? I am tied in for another 2.5 years and an advance will cost me 6.99%. I don't think I can but just thought I'd check. Thanks Link to comment Share on other sites More sharing options...
Reg Posted November 30, 2006 Report Share Posted November 30, 2006 No you would have to either pay the early exit fee with the current lender or wait until the end of the tie-in period. Then if the house price has risen you could remortgage and let some equity out. However with interest rates on the up and property prices sky high I wouldn't bank on prices neccessarily going up Link to comment Share on other sites More sharing options...
Matthew Posted November 30, 2006 Author Report Share Posted November 30, 2006 Thought so, thanks mate. Link to comment Share on other sites More sharing options...
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