A capital raising mortgage may be required for a number of reasons depending on your circumstances, and we have the solutions to help.
Is a capital raising mortgage right for you?
A capital raising mortgage can be a very useful short-term solution to financial problems, whatever you need the money for. The lower interest rates mean that by increasing your mortgage, you will likely pay less than getting an unsecured loan. However, you should consider the fact that it will mean larger mortgage repayments and a longer repayment term. There may also be early repayment charges on your current mortgage.
What is a Capital Raising Mortgage?
Raising capital against your property usually involves remortgaging, you can change your mortgage product to benefit from lower interest rates or to increase borrowing for a lump sum. You can use this cash equity on home improvements or to consolidate your debts.
Would i be eligible for a Capital Raising Mortgage?
Lenders will have different criteria for authorising such a loan, and it is usually based on the purpose for raising the capital.
The funds raised could be used to buy a new car, pay for a family event such as a wedding or funeral or to put a deposit on another property.
Financial help for a family member
The funds raised could be used to fund certain gifts or provide financial support such as enabling a family member to get on the property ladder.
The funds raised could be used for paying off other debts such as personal loans or credit cards, streamlining payments and saving on interest.
The funds raised could be used to fund investments like an expansion to your business or towards the purchase of a buy to let property.
The funds raised could be used for much needed home improvements and maintenance including property extensions.