6th August 2018
Summer is the perfect time to make the home improvements that have been sat on your to-do list since goodness-knows-when! The sun is out, there’s a spring in your step and all of our moods are benefitting from the lack of grey sky.
The good news is that if you have enough equity in your property, you can release it to do these home improvements, without changing the terms of your mortgage. The loan you could take won’t just cover some pots of paint either – it could be as much as 90% of the value of the property (subject to different lenders offerings).
Let’s use the example that you want to release some equity from your property and you’re on a five year fixed deal with your mortgage lender with a caveat that, if you want to come out of the deal, you have to pay an early repayment charge. No problem! You could get a further advance on your mortgage without paying the early repayment charge.
The even better news is that equity from your property can be released into your bank account within a relatively short time frame. More often than not, we see advances like this in a client’s bank account within one month.
So, don’t believe the myths that your current mortgage rate will be affected if you take out additional borrowing. Make the most of Summer and book yourself in for a conversation with one of our expert mortgage advisors, and see what options are available to you to finally make those home improvements.
All content is accurate at the time of publication
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