Hello guys,
When you take a mortgage for the first time, you need to pay some of the house price and the bank will lend you the rest.
But how about remortgaging? do you also need to pay something in advance?
example:
interest only mortgage taken 2 years ago.
House price £150,000
money paid to bank at start: £30,000
Loan taken from bank: £120,000
how the remortgage works on the above example?
When you take a mortgage for the first time, you need to pay some of the house price and the bank will lend you the rest.
But how about remortgaging? do you also need to pay something in advance?
example:
interest only mortgage taken 2 years ago.
House price £150,000
money paid to bank at start: £30,000
Loan taken from bank: £120,000
how the remortgage works on the above example?