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Remortgage advice


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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.


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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 <_<

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