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Topic starter
16/08/2017 2:56 pm
Just about to complete my 6 years, & i have about 50% equity on my home. Thinking of re-mortgaging, what would the chances of a home loan against my positive home equity be? Are Mortgage lenders easier with a home loan against the security of a home and the plus side of so much equity? or would a loan company be the better bet?
Obviously im still with the same Mortgage lender i originally was with when i went into the Trust Deed, but they will (i assume) have a past record of my last 6 years credit history! Ive never defaulted on my Mortgage, but dont want to start with a refusal of a home loan from my current Mortgage lender at the first time of asking!
Thx
16/08/2017 4:59 pm
Hi Rickie1.
My advice would be to start by talking to your own mortgage lender. New mortgages or secured loans almost always have significant fees attached which it may pay you to avoid.
You could then seek the advice of a mortgage broker about whether they can come up with anything better. As part of their advice they should guide you about the pros and cons of sticking with your existing mortgage and getting a new secured loan, or getting an entirely new mortgage covering the old mortgage balance plus the amount of equity that you're seeking to release.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
16/08/2017 6:54 pm
Mortgage broker sounds good thx.
Don't suppose anyone can recommend a good one in Ayrshire?
16/08/2017 9:54 pm
Hi Rickie1,
Speaking with your own mortgage provider is a good idea and like TDA has suggested you could also speak with an independent financial advisor.
I work with a number of financial advisors who have experience dealing with clients who have been through a Trust Deed in the Glasgow and Ayrshire area. Id be happy to put you in touch with them if you would like. If so, please click the contact button with your details and I can forward you on their contact details rather than put them on an open forum.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
17/08/2017 1:12 pm
Will do, and thanks.
