Is it a requirement for your mortgage to have to be reregistered if you stay with the same bank and simply have your borrowings increased. We have a loan with a bank and decide to ask for an increase in the borrowings to gain access to some of the equity. My query is would the mortgage have to be reregistered because there is now increased borrowings ? Mark
reregistering of mortgage - is it required ?
- Thread starter mitta
- Start date
An increased loan against the same mortgage to take advantage of increased equity has received an answer that the mortgage would need to be upstamped and stamp duty paid on the extra loan amount. question - does the arrangment of the upstamping etc need to be carried out by a solicitor, or the bank or can this be done by a mortgage broker as part of his service to the client
Hiya
Does depend though on a few things, like who the funder is
Some lenders will take a second over their own first, where
1. The primary mortgage was for PPOR use and the new one is for investment
and
2. some lenders "just do it that way"
ta
rolf
Does depend though on a few things, like who the funder is
Some lenders will take a second over their own first, where
1. The primary mortgage was for PPOR use and the new one is for investment
and
2. some lenders "just do it that way"
ta
rolf
