Hi Everyone
We're hoping to buy a new house next year but will have have four years left of a secured loan to pay. We're hoping to pay down our unsecured loan in the year as we consider this to be more of an issue as we have found out it is unregulated and therefore want it gone. We also get interest back on the secured loan upon full repayment (as long as we keep to term) So my question is are we able to remortgage and keep the secured loan against the new property? Secondly if we are will this restrict who will lend to us?
Many Thanks
Nikkei
We're hoping to buy a new house next year but will have have four years left of a secured loan to pay. We're hoping to pay down our unsecured loan in the year as we consider this to be more of an issue as we have found out it is unregulated and therefore want it gone. We also get interest back on the secured loan upon full repayment (as long as we keep to term) So my question is are we able to remortgage and keep the secured loan against the new property? Secondly if we are will this restrict who will lend to us?
Many Thanks
Nikkei